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31. If I lend a sum of money at 6 per cent, the insterest for a certain time exceeds the loan by Rs 100 ; but if I lend it at 3 per cent, for a fourth of the time, the loan exceeds its interest by Rs 425 . How much do I lend? |
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Answer» Let the amount of loan be Rs.x and its interest exceeds the loan amount by Rs.100 in y years at 6% rate. So x+100= xy6/100 ........(1) By 2nd condition x - xy3/400=425 Or, 8x - xy6/100=3400........(2) Combining (1) and (2) we get 8x -x-100=3400 =>7x=3500 =>x = 500 |
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