Rs. 500 was invested at 12% per annum simple interest and a certain sum of money invested at 10% per annum simple interest. If the sum of the interest on both the sum after 4 years is Rs. 480, the latter sum of money is :
Rs. 500 was invested at 12% per annum simple interest and a certain sum of money invested at 10% per annum simple interest. If the sum of the interest on both the sum after 4 years is Rs. 480, the latter sum of money is :
[A]550
[B]450
[C]750
[D]600
600
Simple interest gained from Rs. 500 = $latex \frac{500\times 12\times 4}{100}=&s=1$ $latex Rs. 240$
Let the other principal be x.
S.I. gained = Rs. (480 – 240) = Rs. 240
$latex \therefore \frac{x\times 10\times 4}{100}=&s=1$ $latex 240$
$latex =>x=\frac{240\times 100}{40}=&s=1$ $latex 600$
Hence option [D] is the right answer.