If the simple interest on a certain sum of money for 7 years at rate of 8% per annum is same as the simple interest on Rs. 820 for 4 years at the rate of 7% per annum, then find the sum of money?

The simple interest on Rs. 820 is calculated as (820 times 7 times 4) divided by 100, resulting in Rs. 229.60. Using the formula for simple interest, let P be the unknown sum, so (P times 8 times 7) divided by 100 equals 229.60. Solving for P gives 22960 divided by 56, which results in Rs. 410.

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