A person loses 12.5% of his money and spends 60% of the remaining money. The part of his total money now left with him, if he deposits this left-over money in a bank for 2 years at 8% per annum simple rate of interest, he gets ₹2,030 after 2 years. What was the total initial money with the person?

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This is a Paper-VII question worth 8 marks.

A person loses 12.5% of his money and spends 60% of the remaining money. The part of his total money now left with him, if he deposits this left-over money in a bank for 2 years at 8% per annum simple rate of interest, he gets ₹2,030 after 2 years. What was the total initial money with the person?

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A person loses 12.5% of his money and spends 60% of the remaining money. The part of his total money now left with him, if he deposits this left-over money in a bank for 2 years at 8% per annum simple rate of interest, he gets ₹2,030 after 2 years. What was the total initial money with the person?

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