Question

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

Answer 1

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