Question

A money lender lent equal sums of money at 9% and 11% respectively. after a month he got rupees 9000 as total simple interest. Find each sum?

Answer 1

If after a month the moneylender got Rs. 9000 as total simple interest, then each sum is equal to Rs. 540000.  

Step-by-step explanation:

Required formula:

Simple Interest = [PRT]/100

Let each equal sums lent by the moneylender be Rs. “x”.

Rate of interest for one sum = 9%

Rate of interest for another sum = 11%

Time period, T = 1 month = $\frac{1}{12}$ years

After 1 month, the total interest received by the lender = Rs. 9000

Therefore, according to the given data in the question and substituting the values in the above formula, we get

9000 = [(x*$\frac{1}{12}$*9)/100] + [(x*$\frac{1}{12}$*11)/100]

⇒ 9000 = [(x*1*9)/(12*100)] + [(x*1*11)/(12*100)]

⇒ 9000 = $\frac{1}{12* 100}$ * [9x+11x]

⇒ 9000 * 12 * 100 = 20x

⇒ x = (10800000)/(20)

⇒ x = Rs. 540000

Thus, each of the sum lent by the moneylender is Rs. 540000.

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