A person lent out some money for 1 year at 6% per annum simple interest and after 18 months, he again lent out the same money at a simple interest of 24% per annum. In both the cases, he got Rs.4704. Which of these could be the amount that was lent out in each case if interest is paid half-yearly?

• If interest is paid half yearly,
  in first case , r=3% per 6 months
  for 18 months, I=( P*3*3)/100 ; here r=3% and t=3 as interest for 18 months in t=18/6
  for next 6 month (i.e 24 months) I= (P*3*4)/100 =12P/100
  
  second case,
  After 18 months, same amount is lent out
  r=12%
  for 6 month i.e, first interest for t=1 , I=(12*1*P)/100=12P/100
  For both cases , he got 4704
  In above case , both cases have same interest as 12P/100
  
  i.e P+12P/100=4704;
  P=4200
  
• 8 years agoHelpfull: Yes(0) No(4)
• x+(4% of x)3=4701
  x=4200
• 7 years agoHelpfull: Yes(0) No(3)