Latest Wipro Aptitude Question SOLUTION: two equal amounts of money are lent out at 6% and 5% simple interests resp. at the same time. the former is recovered 2 years early than the later andhe amount so recovered in eac

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(#M40011757) WIPRO Numerical Ability question simple interest Keep an EYE

two equal amounts of money are lent out at 6% and 5% simple interests resp. at the same time. the former is recovered 2 years early than the later andhe amount so recovered in each csae is rs.2880. determine the amount i.e., lent out

Asked In Wipro sowjanya (11 years ago)

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Sri Harsha  (11 years ago)

Ans: Rs.1800
let p be the amount lent out
interest in 1st case= p*r*t/100
= p*6*t/100
=6pt/100------------------(equation 1)
interest in 2nd case= p*r*t/100
=p*5*(t+2)/100 (since recovered 2 years later than 1st one)
since amounts are equal(each 2880) and lent out sums are equal, intersts will be equal
=> 5p(t+2)/100=6pt/100
=>5t+10=6t
=>t=10yrs
final amt=2880
=>p + interst = 2880
=> p + 6p*10/100 = 2880
=>16p=2880*10
=> p= Rs.1800

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