Question

Sameer lent equal sums of money at 5
per cent and 4 per cent per annum respectively for a period of
find the sum of money lent at 4%.
3 years. If he earned
72 more for the money lent out at 5.5​

Answer 1

Step-by-step explanation:

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%, Rs. 72 is the simple interest on the amount P, lent at 5.5% for 3 years.

Thus, 72 = P*5.5*3/100

Or P = 72*100/(5.5*3)

P = 7200/16.5 = 436.36

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