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 interests on both the sums after 4 years is Rs. 480, the latter sum of money is?

A. Rs. 450

B. Rs. 750

C. Rs. 600

D. Rs. 550

E. None of these

Solution(By Examveda Team)

Total Interest = Rs. 480.
First Capital = Rs. 500.

Rate = 12%

Time = 4 years.

Interest = (PTR )/100 = (500 * 4 *12)/100 = Rs. 240.

Interest on second sum = 480 - 240 = Rs. 240.

Time = 4 years.

Rate = 10%.

Second Sum = (240 *100) / (4 *10) = Rs. 600.