Two equal sums were lent at the same time at simple interest rates of – InterviewSolution

InterviewSolution

1.	Two equal sums were lent at the same time at simple interest rates of 6% and 4%per annum. The first sum was recovered 2 years earlier than the second sum, and the amount in each case was Rs 930. What was the sum lent?
Answer» Rs 820 Rs 780 Rs 690 Rs 750 Solution :i) Let the TIME period for the sum lent at `6%` be T years. ii) Let the sum be Rs P in each case and second sum RECOVERED in x years. ii) `P[1+(6(x-2))/100]=P[1+(4(x))/100]=930`. FIND x. IV) Using the above information, find P.

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