Q:
A person lends Rs. 300 to A at 4% and Rs.540 to B at 6% for the same time. if the total amount that he gets at the end is Rs. 1032. What is the time?
Answer
Money lent to A+B = (300 + 540) = Rs. 840
Amount received = Rs. 1032
Interest received = Rs. 1032 - Rs.840 = Rs. 192
Interest on Rs. 300 lent to A for 1 year = = Rs. 12
Interest on Rs.540 lent to B for 1 year = = Rs. 36
Total yearly interest = Rs.(12+36) = Rs.48
If interest is Rs. 48, time = 1 year
If interest is Rs. 192, time = 192/48 = 4 years
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