Question

13. Victor had lent 4,32,000 to Samuel at the rate of 8.5% and later received the amount of 5,60,520 from him. What would have been the loan period?​

Answer 1

According to the question,

$latex \frac{x\times 4\times 1}{100}+\frac{(16000-x)\times 5\times 1}{100} = 700&s=1$

$latex => 4x + 80000-5x = 70000$

$latex => x = 80000 – 70000 = 10000$