Maths-

General

Easy

Question

# Two equal sums were lent out at 7% and 5% respectively, the interests earned on the two loans add up to Rs 960 for 4 years. Find the total sum lent out.

Hint:

### First we will try to find out interest per year then we will find the total sum lent.

## The correct answer is: 4000 Rupees

### Complete step by step solution:

Given that interest earned on two loans for 4 years = Rs 960

So, interest earned for 1 year = =240 Rs…(i)

It is given that two equal sums were lent out at 7% and 5%.

So, total interest rate for one year = …(ii)

On equating (i) and (ii), we get

So, then

Therefore the total sum lent out (two equal sums ) will be 2000 + 2000 = 4000 Rupees

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