To find: How much money was loaned at
Answer to Problem 19AYU
Explanation of Solution
Given information:
Amount loaned is
Scheme 1: Loaned at the rate of
Scheme 2: Loaned at the rate of
Calculation:
As per the given information −
Amount loaned is
Let suppose
Scheme 1: Loaned at the rate of
Using simple interest formula
Interest from scheme 1,
Scheme 2: Loaned at the rate of
Interest from scheme 2,
Total interest from both scheme is
Hence,
Chapter A Solutions
Precalculus
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