Question

Peter lent some amount of money at 5% simple interest and an equal amount of money at 7% simple interest each for 3 years. If total interest earned on both the sum was Rs 360,what amount was lent in each

Answer 1

Step-by-step explanation:

Given Peter lent some amount of money at 5% simple interest and an equal amount of money at 7% simple interest each for 3 years. If total interest earned on both the sum was Rs 360,what amount was lent in each

• Let the amount invested be Rs P
• According to question  
• P x 5 x 3 / 100 + P x 7 x 3 / 100 = 360
• So 15 P + 21 P / 100 = 360
• So 36 P / 100 = 360
• So 36 P = 36000
• Or P = Rs 1000

Reference link will be

https://brainly.in/question/1997094