Two equal sums of money are lent at the same time at 8% and 7% per an…

Question

Two equal sums of money are lent at the same time at 8% and 7% per annum simple interest. The former is recovered 6 months earlier than the latter and the amount in each case is Rs. 2560. The sum and the time for which…

Accepted Answer

Option A. Rs. 2000, 3.5 years and 4 years. Answer & Solution Answer: Option A Solution: & Let each sum = Rs . x. & Let the first sum be invested for & ( T - 1/2 ) years and & the second sum for T years . & Then, & x + x × 8 × ( T - 1/2 )100 = 2560 & 100x + 8xT - 4x = 256000 & 96x + 8xT = 256000....(i) & And, & x + x × 7…

Two equal sums of money are lent at the same time at 8% and 7% per annum simple interest. The former is recovered 6 months earlier than the latter and the amount in each case is Rs. 2560. The sum and the time for which the sums of money are lent out are.

Solution