Two Equal Amounts of Money are lent out at 6% and 5 % simple Interest respectively at the same time. The former is recovered two years earlier than the latter and the amount so recovered in each case is Rs.2800. Determine the amount that is lent out? Answers:
A) 3348 B) 368 C) 37077 D) 1750 E) 2701
Explanation:   Let the first amount lent for t + 2 years and second at t years. and amount = P   Now amount = P + P×t×6100P×t×6100 = P×(t+2)×5100P×(t+2)×5100 = 2800.   Equating first two parts, we get t×6100=(t+2)×5100t×6100=(t+2)×5100   ⇒ t = 10.   Now P+P×10×6100=2800P+P×10×6100=2800   ⇒ 1610P=28001610P=2800   ⇒ P = 1750.   Answer: 1750
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Two Equal Amounts of Money are lent out at 6% and 5 % simple Interest respectively at the same time. The former is recovered two years earlier than the latter and the amount so recovered in each case is Rs.2800. Determine the amount that is lent out?