Question
A sum of 74000 is divided into two parts such that the simple interest on the first part for 3 years at 15% per annum is equal to the simple interest on the second part for 5.5 years at 12% per annum, the greater part is?
Solution
Let the sum invested for 3 years (first part) be P.
As per given condition:
P * 3 * 15/100 = (74000 - P) * 5.5 * 12/100
=> 15P = (74000 - P) * 22
=> 37P = 74000 * 22
=> P = 44000
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