Manish borrowed Rs.45000 from Sahil. A part of the sum is borrowed at 10% p.a. under simple interest for 4 years and the remaining part at 11%p.a. under simple interest for 4 and 1/2 years. If the total interest earned by Sahil is Rs.19900, then find the sum borrowed at each rate.
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Let the two sums be x and (45000 - x) [Since their sum is 45000]
Sum of two interests will be 19900 Simple Interest is given by Principal x Rate x Time
19900 = [ (45000-x) * 10 * 2 /100 ] + [ x * 11 * 4.5 / 100 ] Upon simplification, we get x = 20000 ( which in our case referred to second amount, of 11% pa)
So the two amounts are 25000, 20000