Question

5. Two equal sums of money were lent at simple interest at 11% p . a . for 3 years respectively. If the difference in interests for two periods was Rs 412.50, find each sum. ​

Answer 1

Answer:

Let the sum be Rs. x.  

Then, (x×11×  

2

9

​  

×  

100

1

​  

−x×11×  

2

7

​  

×  

100

1

​  

)=5500

or  

200

22x

​  

=5500

or 11x=550000

or x=50000.