Mathematics · Simple Interest
An investor allocated 40000 into two different financial plans. The first part was invested for 4 years at 8 percent simple interest, and the second part for 4 years at 10 percent simple interest. If the interest from the second plan was 4480 more than the first, how much was invested in the second plan?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 128000
- 224000✓
- 320000
- 416000
Correct answer
24000
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