A sum of money lent at 6% p.a simple interest for 3 years yields a certain amount of interest. If it had been lent for 5 years, it would have yielded Rs. 936 more. Find the sum.
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A sum of money lent at 6% p.a simple interest for 3 years yields a certain amount of interest. If it had been
7-5=2
960÷2=480
sum ×8×1/100=480
sum=48000/8=6000
correct ans is 6,000
if we checked diff in interest in 5 yr and 7 yr it's 960 as denoted in question...
6000×8×5/100=2400
6000×8×7\100=3360
3360-2490=960...
Step-by-step explanation:
Let x be at 8%. Amount at 6% is (1550 -x)
(X x 8/100) + (1550-x) ×6÷100 = 106.
Multiplying both sides by 100,
8x + (1550 -x) * 6=10600.
8x + 9300–6x = 10600
2x = 1300.
x = 650.
Hence 650 @ 8% and 900 at 6%, are the answer values.