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A sum of 25000 is lent in two equal parts at the same time, the first part at 7% per annum and the second at 14% per annum on simple interest. The latter is recovered four years earlier than the former. What was the period for which the sum was let at 14% if the latter amount exceeds the former by 63000?

A sum of 25000 is lent in two equal parts at the same time, the first part at 7% per annum and the second at 14% per annum on simple interest. The latter is recovered four years earlier than the former. What was the period for which the sum was let at 14% if the latter amount exceeds the former by 63000? Correct Answer 76

Given:

The sum lent in two-part is 25000

Concept:

From the given information, it can be concluded that the difference between the amounts is the difference between the interests since the sum are equal

Calculation:

Let T years be the time for which the sum is lent at 7% and (T - 4) years be the time for which the sum is lent at 14%

⇒ Sum = 25000/2 = 12500

⇒ {12500 × (T - 4) × 14}/100 - (12500 × T × 7)/100 = 63000

⇒ T = 80

⇒ The time period for which the sum let at 14%

⇒ 80 - 4 = 76 years

∴ The required result will be 76 years.

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