Two equal sums are lent at simple interest. The first sum is recovered – InterviewSolution

InterviewSolution

1.	Two equal sums are lent at simple interest. The first sum is recovered in 3 years and the second sum in 6 years. The rate of interest per annum on the first sum is 2% more than that of the second sum. Find the total sum lent if the amount in each case is Rs 560.
Answer» Rs 530 Rs 500 Rs 1480 Rs 1000 Solution :i) Let the rate of interest on the SECOND sum be `R%`. ii) Let the sum be Rs P in each case and rate of interest on second sum be r% PER ANNUM. III) Take `P[1+((r+2)3)/100]=p+[(rxx6)/100]=560`. Find P and then 2P.

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