A co - operative weaving society takes 10 years long term loan and 2 years short term loans for purchasing new power loans and raw materials respectively from a co - operative bank. The ratio of the sums of two loans is 15:4 and the rate of simple interests are 7% per annum & 3% per annum respectively. If an amount of Rs. 3540 is to be repaid against the short term loan on completion of the loan ,
a) what is the amount of loan in each case?
b) What amount is to be repaid against the long term loan on term ending?
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a is a correct answer is the amount of loan in each case
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