What sum of money will amount to Rs. 8800 in 12 years at the same rate of simple interest at which Rs. 1706 amounts to Rs. 3412 in 10 years?
Explanation:
S.I. = 3412 – 1706 = 1706×R×10100
⇒ R = 10%
Now, 8800 – P = P×10×12100
⇒ P = 4000.
Hence, option (c).
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