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

• 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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