A sum of ₹950 is lent out in two parts in such a way that the interest on one part at 6% for 5 years and second at 4% for 5 years is equal to ₹200. Find the two sums.
Answer & explanation
Correct answer: option 2
\(\frac{p1 × 6% × 5 }{100}\) + \(\frac{p2 × 4% × 5 }{100}\) = 200
⇒ \(\frac{P₁×3}{10}\) + \(\frac{P₂×2}{10}\) = 200
⇒ \(\frac{P₁×3}{10}\) + \(\frac{(950 - P₁)×2}{10}\) = 200
⇒ P₁ + 1900 = 2000
⇒ P₁ = 100
P₂ = 950 - 100 = 850