A lends certain sum to B and a sum larger than the first by Rs. 100 to C. B agrees to pay 5 p.c. interest and C 7 p.c. Both repay the sums borrowed together with interest at the end of 5 yrs. If C's amount exceeds B's by Rs. 12.40, what sum did each borrow?
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Answers & Comments
Step-by-step explanation:
AmountgiventoB=2500
R=7%
T=4years
letamountgiventoC=x
totalinterest=1120
100
2500×4×7
+
100
x×4×7
=1120
700+
100
x×4×7
=1120
x×4×7=(1120−700)×100=420×100
x=
4×7
420
×100
=Rs.1500