Two equal sums were lent on simple interest at 6% and 10% per annum respectively. The first sum was recovered two years later than the second sum and the amount in each case was ₹1105. What was the sum (in ₹) lent in each scheme?

850

Interest = \(\frac{Principal ×Rate × Time }{100}\)

Amount = Principal + Interest

Calculation

Let Year be t and Principal be P

A.T. Q ,

( t+ 2) × 6% = t × 10%

⇒ 6% t + 12% = 10%t

⇒ t = 3 years

Amount = Principal + Interest  

 ⇒   P + \(\frac{ P ×6 × 5}{100}\) = 1105

⇒   P + \(\frac{ 3 × P }{10}\) = 1105

⇒ \(\frac{ 13 P }{10}\)= 1105

⇒ P = 1105 ×  \(\frac{10}{13}\)

⇒ P = Rs. 850