A lends Rs.2,500 to B and a certain sum to C at the same time at 7% p.a. simple interest. If after 4 years, A altogether receives Rs.1,120 as interest from B and C, then the sum lent to C is:
To solve this problem, we can set up a system of equations.
Let the sum lent to C be x.
The sum lent to B is Rs.2,500.
The formula to calculate Simple Interest is:
Interest = (Principal * Rate * Time) / 100
For B:
Interest from B = (Principal * Rate * Time) / 100
1,120 = (2,500 * 7 * 4) / 100
Simplifying the equation for B:
112,000 = 700 * 4 * 2,500
112,000 = 700 * 10,000
Now, let's find the interest from C.
Interest from C = (Principal * Rate * Time) / 100
1,120 = (x * 7 * 4) / 100
Simplifying the equation for C:
112,000 = 28x
Dividing both sides by 28 to solve for x:
x = 4,000
Therefore, the sum lent to C is Rs.4,000.