Two equal sums are lent at 10% and 8% respectively at the same time. The first sum is received 2 years earlier than the second one and the amount received in each was Rs. 37800. Find sum.
Answer & explanation
Correct answer: option 1
P + \(\frac{P × 10 × t}{100}\) = P + \(\frac{P × 8 (t+2)}{100}\)
10t = 8t +16
t = 8
total rate = 10% × 8 = 80%; P = 100%
A = 180% = 37800
1% = \(\frac{37800}{180}\)
P =100% = \(\frac{37800}{180}\) × 100 = 21000