500 was invested at 12% per annum simple interest and a

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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 interest on both the sum after 4 years is 480, the latter sum of money is :

Given , T = 4 years , R = 12%
Simple interest gained from ₹ 500
As we know that ,

SI =	P × R × T	= ₹ 240
	100

SI =	500 × 12 × 4	= ₹ 240
	100

Let the other Principal be P.
Simple Interest gained = ₹ (480 – 240) = ₹ 240

∴	P × 10 × 4	= ₹ 240
	100

⇒ P =	240 × 100	= ₹ 600
	40