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Two equal sums (in are lent at 8% and 4%...

Two equal sums (in are lent at 8% and 4% simple interest p.a, respectively at the same time. The first sum is received 2 years earlier than the other and the amount received in each case is ? 14,500. Each sum is:

A

Rs 12,800

B

Rs 12,500

C

Rs 13,200

D

Rs 12,000

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem step by step, we will follow the given information and apply the formula for simple interest. ### Step 1: Define the Variables Let the principal amount for each sum be \( P \). ### Step 2: Set Up the Interest Formulas For the first sum lent at 8% for \( t \) years, the total amount received can be expressed as: \[ A_1 = P + \left( \frac{P \times 8 \times t}{100} \right) = P \left(1 + \frac{8t}{100}\right) \] For the second sum lent at 4% for \( t + 2 \) years, the total amount received can be expressed as: \[ A_2 = P + \left( \frac{P \times 4 \times (t + 2)}{100} \right) = P \left(1 + \frac{4(t + 2)}{100}\right) \] ### Step 3: Set the Amounts Equal to 14,500 According to the problem, both amounts received are Rs. 14,500: \[ P \left(1 + \frac{8t}{100}\right) = 14,500 \quad \text{(1)} \] \[ P \left(1 + \frac{4(t + 2)}{100}\right) = 14,500 \quad \text{(2)} \] ### Step 4: Solve Equation (1) From equation (1): \[ P \left(1 + \frac{8t}{100}\right) = 14,500 \] Rearranging gives: \[ P = \frac{14,500}{1 + \frac{8t}{100}} \] ### Step 5: Solve Equation (2) From equation (2): \[ P \left(1 + \frac{4(t + 2)}{100}\right) = 14,500 \] Rearranging gives: \[ P = \frac{14,500}{1 + \frac{4(t + 2)}{100}} \] ### Step 6: Set the Two Expressions for P Equal Now we have two expressions for \( P \): \[ \frac{14,500}{1 + \frac{8t}{100}} = \frac{14,500}{1 + \frac{4(t + 2)}{100}} \] We can cancel \( 14,500 \) from both sides (as long as \( P \neq 0 \)): \[ 1 + \frac{8t}{100} = 1 + \frac{4(t + 2)}{100} \] ### Step 7: Simplify the Equation Removing the 1 from both sides gives: \[ \frac{8t}{100} = \frac{4(t + 2)}{100} \] Multiplying through by 100 to eliminate the fraction: \[ 8t = 4(t + 2) \] Expanding the right side: \[ 8t = 4t + 8 \] Subtracting \( 4t \) from both sides: \[ 4t = 8 \] Dividing by 4: \[ t = 2 \] ### Step 8: Substitute Back to Find P Now that we have \( t = 2 \), we can substitute it back into either equation for \( P \). Using equation (1): \[ P = \frac{14,500}{1 + \frac{8 \times 2}{100}} = \frac{14,500}{1 + \frac{16}{100}} = \frac{14,500}{1.16} \] Calculating \( P \): \[ P = \frac{14,500}{1.16} = 12,500 \] ### Final Answer Each sum lent is Rs. 12,500. ---
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