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A sum was lent out for a certain time. T...

A sum was lent out for a certain time. The sum amounts to X 400 at 10% annual interest rate. When the sum was lent out at 4% annual interest rate, it amounts to X 200. Find the sum.

A

`₹(200)/(3)`

B

₹100

C

`₹(400)/(3)`

D

`₹(500)/(3)`

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem step by step, we will use the formula for simple interest and the information provided in the question. ### Step 1: Understand the Problem We have two scenarios: 1. A sum amounts to ₹400 at a 10% annual interest rate. 2. The same sum amounts to ₹200 at a 4% annual interest rate. Let’s denote the principal (the sum we want to find) as \( P \) and the time (in years) as \( t \). ### Step 2: Set Up the Equations Using the formula for the amount in simple interest: \[ A = P + SI \] Where \( SI = \frac{P \times R \times t}{100} \). For the first scenario (10% interest): \[ 400 = P + \frac{P \times 10 \times t}{100} \] This simplifies to: \[ 400 = P + \frac{Pt}{10} \] Multiplying through by 10 to eliminate the fraction: \[ 4000 = 10P + Pt \] So we can write: \[ 4000 = P(10 + t) \quad \text{(Equation 1)} \] For the second scenario (4% interest): \[ 200 = P + \frac{P \times 4 \times t}{100} \] This simplifies to: \[ 200 = P + \frac{Pt}{25} \] Multiplying through by 25: \[ 5000 = 25P + Pt \] So we can write: \[ 5000 = P(25 + t) \quad \text{(Equation 2)} \] ### Step 3: Solve the Equations Now we have two equations: 1. \( 4000 = P(10 + t) \) 2. \( 5000 = P(25 + t) \) We can express \( t \) from both equations: From Equation 1: \[ t = \frac{4000}{P} - 10 \quad \text{(Equation 3)} \] From Equation 2: \[ t = \frac{5000}{P} - 25 \quad \text{(Equation 4)} \] ### Step 4: Set Equations for \( t \) Equal Setting Equation 3 equal to Equation 4: \[ \frac{4000}{P} - 10 = \frac{5000}{P} - 25 \] ### Step 5: Solve for \( P \) Rearranging gives: \[ \frac{4000}{P} - \frac{5000}{P} = -25 + 10 \] \[ \frac{-1000}{P} = -15 \] Multiplying both sides by \( P \): \[ -1000 = -15P \] Dividing both sides by -15: \[ P = \frac{1000}{15} = \frac{200}{3} \] ### Final Answer Thus, the sum lent out is: \[ \boxed{\frac{200}{3}} \]
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