NIFT UG 2018 Question Paper with solutions

Question : 12 of 150

Marks: +1, -0

Equal sums of money are lent to

X

and

Y

7.5 \%

per annum for the period of 4 yr and 5 yr, respectively. If the difference in interest paid by them was

₹ 150,

the sum lent to each was

Solution:

Given,

R=7.5 \%, T_{1}=4 {yr}, T_{2}=5 {yr}

Let the sum lent be

\₹\;x

.
Then, difference in SI

=\;{P × R × T_{2}}/{100}-\;{P × R × T_{1}}/{100}

According to question,

\;{x × 7.5 × 5}/{100}-\;{x × 7.5 × 4}/{100}=150

⇒ \;\; \;{x × 7.5 × 1}/{100}=150

⇒ x =\;{150 × 100}/{7.5}

=\₹\;2000

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