Discussion Forum

Two equal sums of money are lent at the same time at 9% per annum and 8% per annum simple interest respectively. The former is recovered 6 months earlier than the latter and the amount in each case is Rs. 17,680. Find the sum

Answer:

Explanation:

Let sum lent for interest in each case be Rs. $100$

Given $\frac{100\times\left(N-\frac{1}{2}\right)\times 9}{100}$ $=\frac{100\times N\times 8}{100}$

$\Rightarrow N$ $=\frac{9}{2}$ $=4\frac{1}{2}$ Yrs

If $P=100$ then Total Amount  $=100$ $+\left\{\frac{(100\times 8\times 9)}{(100\times 2)}\right\}$  $=136$

If $136$ is Total Amount then lent $=100$

If $17,680$ is Total Amount  then,

Lent $=\frac{(17680\times 100)}{136}$ = Rs.13,000