Question

A person lent out some money for 1 year at 6% p.a. S.I. & after 18 months he again lent out the same money at a SI of 24% p.a. In both the cases he got rs 4704. Which of these could be the amount that was lent out in each case if interest is paid half yearly?

Answer 1

Solution:-
Case 1 -
P = x 
R = 6 % 
T = 2 (As the interest is paid half yearly, so there will be 2 half years)
SI = (P × R × T)/100
SI = (x × 6 × 2)/100
Case 2 -
P = x
R = 24 %
T = 3 (18 months or 3 half years)
SI = (P × 24 × 3)/100
Now, according to the question
(x × 6 × 2)/100 + (x × 24 × 3)/100 = 4704
12x + 72x = 4704 × 100
84x = 470400
x = 470400/84
x = 5600
So, the answer is Rs. 5600