A sum of money was lent in two parts in the ratio 4: 5 for 4 years and 5 years respectively, both at the rate of 8% per annum simple interest. If the difference between the interests earned from the two parts is 4680, then what was the total sum lent (in)?
Answers
Given : A sum of money was lent in two parts in the ratio 4: 5 for 4 years and 5 years respectively,
both at the rate of 8% per annum simple interest.
the difference between the interests earned from the two parts is 4680
To Find : the total sum lent
Solution:
Let say total amount lent = 9x
so one part = 4x and other = 5x
SI = P * R * T /100
P = 4x
R = 8
T = 4
SI = 4x * 8 * 4/100 = 128x/100
P = 5x
R = 8
T = 5
SI = 5x * 8 * 5/100 = 200x/100
difference between the interests = 200x/100 - 128x/100
= 72x/100
72x/100 = 4680
=> x/100 = 65
=> x = 6500
=> 9x = 6500 * 9
=> 9x = 58500
Hence total sum lent = 58500 Rs
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