A lends ₹2500 to B and at the same time a certain sum to C at the rate of 7% per annum simple interest. If the simple interest is collected ₹1120 after 4 years from B and C then find the sum lent to C?
Answer & explanation
Correct answer: option 1
SI collected from B + C = 1120
C x 7% x 4 + 2500 x 7% x 4 = 1120
C x 28% = 420
C = 1500