Question

Sameer lent equal sums of money at 5½% AND 4% per annum respectively for a period of 3 years. If he earned ₹ 72 more for the money lent out at 5½% . find the sum of money at 4%​

Answer 1

Solution:-

It does not matter whether the amount of money lent is at 5.5% or 4℅ ,

Since both the amounts are same

Let P be the amount Lent by the man.

Since he earns Rs. 72 more by lending the amount at 5.5% for 3 yrs

Thus, 72= P*5.5*3/100

P = 7200/16.5 = 436. 36

Thus, the amount Lent at 4 % is Rs. 436.36

Answer 2

Answer:

Required sum of money is 14400 rupees.

Step-by-step explanation:

Given,Sameer lent equal sums of money at 5½% AND 4% per annum respectively for a period of 3 years.

Let,Sameer lent total x rupees.

We know,

Simple interest $= \frac{prt}{100}$

Where p is principal,r is rate of interest and t is time.

For $5 \frac{1}{2} \%$,

Principal = x rupees,rate of interest=

$5 \frac{1}{2} \% = \frac{11}{2} \%$

and time $= 3 \: years$

So, simple interest in this case

$= \frac{x \times \frac{11}{2} \times 3}{100} \\ = \frac{33x}{200}$

For 4%,

principal = x rupees,rate of interest = 4% and time = 3 years.

So, simple interest in this case

$= \frac{x \times 4 \times 3}{100} \\ = \frac{3x}{25}$

It is also given that he earned ₹ 72 more for the money lent out at 5½% .

According to question,

$\frac{33x}{200} - \frac{3x}{25} = 72 \\ \frac{33x - 8 \times 3x}{200} = 72 \\ \frac{33x - 32x}{200} = 72 \\ \frac{x}{200} = 72 \\ x = 72 \times 200 \\ x = 14400$

So, required sum of money is 14400 rupees.

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