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(C) Let the original amount be $P$.Given: Time $T = 12$ years,Rate $R_1 = 8 \%$,Rate $R_2 = 12 \%$,Profit $= 320$.Simple interest earned from Ashish:

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$666.67$

Vedclass · Answer

(C) Let the original amount be $P$.Given: Time $T = 12$ years,Rate $R_1 = 8 \%$,Rate $R_2 = 12 \%$,Profit $= 320$.Simple interest earned from Ashish: $SI_2 = \frac{P 	imes T 	imes R_2}{100} = \frac{P 	imes 12 	imes 12}{100} = \frac{144P}{100}$.Simple interest paid to the bank: $SI_1 = \frac{P 	imes T 	imes R_1}{100} = \frac{P 	imes 12 	imes 8}{100} = \frac{96P}{100}$.Profit is the difference between interest earned and interest paid:$SI_2 - SI_1 = 320$$\frac{144P}{100} - \frac{96P}{100} = 320$$\frac{48P}{100} = 320$$P = \frac{320 	imes 100}{48} = \frac{32000}{48} = \frac{2000}{3} \approx 666.67$.Thus,the original amount is $Rs. 666.67$.

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