Rs 750 was borrowed at 8 % interest rate and Rs 1250 was borrowed at 6 % interest rate
Solution:
A merchant borrowed Rs. 2000 from two money lenders
Let the sum at 8 % be x
Then, the sum at 6 % be 2000 - x
The total interest paid for one year was Rs. 135
8 % of x + 6 % of (2000 - x) = 135
[tex]\frac{8}{100} \times x + \frac{6}{100} \times 2000 - x = 135\\\\0.08x + 0.06 (2000 - x) = 135\\\\0.08x + 120 - 0.06x = 135\\\\0.02x = 135 - 120\\\\0.02x = 15[/tex]
Divide both sides by 0.02
x = 750
Then,
2000 - x = 1250
Thus, Rs 750 was borrowed at 8 % interest rate and Rs 1250 was borrowed at 6 % interest rate
