A two equal sum are lent out at 6% and 5% simple interest per annun respectively at the same time the recovered 24 years earlier than the second one and the amount received in each case was rs 28800.Each sum was
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Answer:
Ans: Rs.1800
Step-by-step explanation:
Let p be the amount lent out
interest in 1st case= p*r*t/100
= p*6*t/100
=6pt/100------------------(equation 1)
interest in 2nd case= p*r*t/100
=p*5*(t+2)/100 (since recovered 2 years later than 1st one)
since amounts are equal(each 2880) and lent out sums are equal, interests will be equal
=> 5p(t+2)/100=6pt/100
=>5t+10=6t
=>t=10yrs
final amt=2880
=>p + interst = 2880
=> p + 6p*10/100 = 2880
=>16p=2880*10
=> p= Rs.1800
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