A person lent out some money for 1year at 6% per annum simple interest and after 18months he again lent out the same money at a simple interest of 24% per annum. In both cases he got Rs.4704. What was the amount that he lent out if interest is paid half yearly?
a.4000
b.4400
c.4200
d.3600

Question

A person lent out some money for 1year at 6% per annum simple interest and after 18months he again lent out the same money at a simple interest of 24% per annum. In both cases he got Rs.4704. What was the amount that he lent out if interest is paid half yearly?
a.4000
b.4400
c.4200
d.3600

zpupster · Answer

case1
3% 6 months
6% 12
9% 18
12% for 24 months

case 2 
12% for 6 months

(1+.12) = 1.12  and

1.12x = 4704

x=??

mathmath333 · Answer

i know this solution 
but i dont understand why the it is taken $3\%$ in case 1

and where to use the given $24\%$ in case 2

mathmath333 · Answer

@freckles

zpupster · Answer

well  if it is 6 % per annum

 What was the amount that he lent out if interest is paid half yearly?

mathmath333 · Answer

it should be $1.06x$ for every six months

zpupster · Answer

6% per annum 
annum = year

6 months is 1/2 a year

mathmath333 · Answer

ok thnx