5. Two equal sums of money were lent at simple interest at 11% p . a . for 3 years respectively. If the difference in interests for two periods was Rs 412.50, find each sum.
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Answer:
Let the sum be Rs. x.
Then, (x×11×
2
9
×
100
1
−x×11×
2
7
×
100
1
)=5500
or
200
22x
=5500
or 11x=550000
or x=50000.