Question

A sum of Rs 14250 is lent partly at 5% and partly at 8% compounded interest per annum. If Rs 1860 is earned at the end of two years as interest then how much of the amount put at 5% compound interest.​

Answer 1

Step-by-step explanation:

Let Rs. p is lent at 5%

p(1.05)² +( 14250 – p)(1.08)² = 14250 + 1860

or, p{(1.08)² – (1.05)²} = 14250(1.08)² – 16110

or, 0.0639p = 16621.2 – 16110= 511.2

or, p = Rs. 8000