1. Prabhat took a certain amount as a loan from a bank at the rate of 8% p.a. simple interest and gave the same amount to Ashish as a loan at the rate of 12% p. a. If at the end of 12 years, he made a profit of 960 in the deal, then the original amount was:
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By: anil on 05 May 2019 01.59 am
Simple Interest = $$frac{P imes R imes T}{100}$$ profit made = Rs 960 R (at which loan is taken) = 8% R(at which it is given to friend ) = 12% i.e.$$frac{P imes 12 imes 12}{100} - frac{P imes 8 imes 12}{100}$$ = 960 P $$frac{4 imes 12}{100}$$ = 960 P = Rs 2000
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