Simple Interest Practice Test 4

Question : 9 of 26

Marks: +1, -0

A and B borrowed an equal sum of money from a money lender at the rate of 8% and 5½% p.a. respectively. If to clear the debt after 4 years, A paid Rs. 550 more than B, the total sum of money taken by them was :

Rs. 12500
Rs. 11000
Rs. 11500
Rs. 10500

Validate

Solution:

Here,

{P×8×4}/100-{P×11×4}/{100×2}=550

⇒{8P}/25-{11P}/50=550

∴P=5500

Hence, total sum of money = 2P = 2 × 5500 = Rs. 11000

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