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Q.

Ram deposited Rs. 2500 at 18% per annum in a firm for 4 years. How much money should his friend Suresh deposit in another firm giving 15% per annum such that both received the same interest in same period.

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a

Rs. 3000

b

Rs. 3500 

c

Rs. 2500

d

Rs. 2800

answer is A.

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Detailed Solution

2500×18×4100=x×15×4100

x=2500×65

x=3000

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