Question

Some amount was lent at 10% p.a.., and after 1 year ₹4400 is repaid and the rest of the amount is repaid at 20% per annum if the second years interest is 11 by 7 of the first years interest find the amount of money that was lent out initially​

Answer 1

Answer:

Let the Amount of money lent out be Rs. P.

First Year Interest = (P * 6)/100 = 0.06P.

Amount to be returned = P + 0.06P = 1.06P.

Amount Returned = 6800.

Balance Amount,

= 1.06P - 6800

Second Year Interest = [(1.06P - 6800) * 5]/100 = (1.06P - 6800)/20.

Given,

Second Year Interest,

= 11/20 * 0.06P

Now,

(1.06P - 6800)/20 = (11*0.06P)/20

1.06P - 6800 = 11* 0.06P

0.4P = 6800

P = 17,000.

Amount lent = Rs. 17,000

Step-by-step explanation:

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