A sum of Rs. 5000 is divided into two parts such that the simple interest on the first part for \(4\frac{1 }{5}\) years at \(6\frac{2 }{3}\)% p.a. is double the simple interest on the second part for \(2\frac{3 }{4}\) years at 4% p.a. Find is the difference between the two parts.
Answer & explanation
Correct answer: option 3
P₁ x \(\frac{20}{3}\) x \(\frac{21}{5}\) = 2 x P₂ x 4% x \(\frac{11}{4}\)
P₁ x 28 = P₂ x 22
⇒ P₁ : P₂ = 11 : 14
⇒ Total = 25R = 5000
⇒ R = 200
Difference = 3R = 600