Two equal sums of money were invested, one at 4% and the other at 4.5%. At the end of 7 years, the simple interest received from the latter exceeded to that received from the former by 31.50. Each sum was :	Choose the correct choice: A) 1,200 B) 600 C) 750 D) 900 E) None of these
Difference of S.I. = √31.50   Let each sum be x. Then   x×4 1/2×7 /100−x×4×7/100=31.50   or 7⁄100x × 1⁄2 = 63⁄2   or x = 900   Answer 900
<result>D</result>
Two equal sums of money were invested, one at 4% and the other at 4.5%. At the end of 7 years, the simple interest received from the latter exceeded to that received from the former by 31.50. Each sum was :