SOLUTION: A businessman borrowed from two moneylenders a sum of rs 2000.for 1 loan the rate of simple interest was 8% Pa and the other was 6 % pa he paid total interest of rs 136 for one yea

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: A businessman borrowed from two moneylenders a sum of rs 2000.for 1 loan the rate of simple interest was 8% Pa and the other was 6 % pa he paid total interest of rs 136 for one yea      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 520695: A businessman borrowed from two moneylenders a sum of rs 2000.for 1 loan the rate of simple interest was 8% Pa and the other was 6 % pa he paid total interest of rs 136 for one year .find the sum borrowed on each rate by him ?
Answer by Maths68(1474) About Me  (Show Source):
You can put this solution on YOUR website!
Amount taken at 8% = x
Amount taken at 6% = 2000-x
Total interest paid = 136



Amount taken * interest rate + Amount taken * interest rate = Total interest paid
x*8% + (2000-x)*6% = 136
x*8/100 + (2000-x)*6/100 = 136
Multiply by 100 both sides
x*8 + (2000-x)*6 = 136 * 100
8x + 12000-6x=13600
8x - 6x=13600-12000
2x=1600
2x/2=1600/2
x=800


Amount taken at 8% = x = 800
Amount taken at 6% = 2000-x = 2000-800 = 1200

Check
800 * 8/100 + 1200 * 6/100 = 136
8*8 + 12*6 = 136
64+72 = 136
136=136