SOLUTION: basit took acertain amount from a bank as aloan at the rate of 8%per annum simple interest and give the same amount to ahmad as a loan at 12% per annum simple interest.if at the e
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Question 1109865: basit took acertain amount from a bank as aloan at the rate of 8%per annum simple interest and give the same amount to ahmad as a loan at 12% per annum simple interest.if at the end of 12 years he made the profit of 320 in the deal.what was the origional amount Found 2 solutions by stanbon, TeachMath:Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! basit took a certain amount from a bank as a loan at the rate of 8%per annum simple interest and gave the same amount to ahmad as a loan at 12% per annum simple interest.
if at the end of 12 years he made the profit of 320 in the deal.what was the original amount
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The the amount be "A"
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Ahmad paid A(1+0.08*13)
Ahmad received A(1+0.12*13)
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Equation::
A+0.12*13A - [A+0.08*13A] = 320
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0.12*13A-0.08*13A = 320
0.52A = 320
A = $615.38
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Cheers,
Stan H.
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