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What sum of money will amount to Rs. 520 in 5 years and to Rs 568 in 7 years on simple interest?

Solution

Correct Option: 1

SI for 2 years (from year 5 to year 7) = 568 - 520 = 48.

SI per year = 24. SI for 5 years = 120.

Principal = 520 - 120 = Rs. 400.

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