Mathematics · Simple Interest
A scholarship fund when held in a high-yield account at the rate of 22% simple interest per annum for 5 years earns Rs 2760 more interest than when held at the rate of 16% per annum simple interest for 4 years. What is the scholarship fund?
- 1Rs 6500
- 2Rs 5000
- 3Rs 6000✓
- 4Rs 5500
Correct answer
Rs 6000
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