Rs. 26000 is invested in two parts in such away that the simple interest on 1st part at 10% per annum for 5 years is equals the simple interest on 2nd part at 9% per annum for 6 years. Find amount of both parts.
Answer & explanation
Correct answer: option 1
P₁ x 10% x 5 = P₂ x 9% x 6
P₁ x 50 = P₂ x 54
P₁ x 25 = P₂ x 27
⇒ P₁ : P₂ = 27 : 25
⇒ Total = 52R =26000
⇒ R = 500
Amount for Part I = 27R = 13500
Amount for Part II = 25R = 12500