Question

Ramesh Babu lent some money to one person at 4% simple interest per annum for 4 years and to another person at double interest of 10% simple interest per annum for the same period. Ramesh Babu got 960 rupees more interest from the second person than the first person. How much money did Ramesh Babu lend?​

Answer 1

Answer:

₹4000

Step-by-step explanation:

let the money lent that is principal amount be x

since SI = PRT ÷100 ( here P= principal amount, R=rate of interest, T= duration of interest)

there SI¹ = (x)(4)(4)÷100= 16x÷100

and SI²= (x)(10)(4)÷100= 40x÷100

given SI² -SI¹ = 960

therefore (40x÷100) - (16x÷100) = 960

(40x-16x)÷100=960

24x ÷ 100 =960

24x = 960×100

x= 96000÷24

x= 4000

therefore money lent is ₹4000