Anitha lends some money to Navitha at 5% p.a. S.I. Navitha lend the amount to Radhika on the same day at 812% p.a. In this transaction after a year Navitha earned a profit of Rs.350. Find the Sum of money lent by Anitha to Navitha.
Question
Anitha lends some money to Navitha at 5% p.a. S.I. Navitha lend the amount to Radhika on the same day at 812% p.a. In this transaction after a year Navitha earned a profit of Rs.350. Find the Sum of money lent by Anitha to Navitha.
Solution
To solve this problem, we need to understand that the profit Navitha made is the difference between the interest she charged Radhika and the interest she owed to Anitha.
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Let's denote the sum of money lent by Anitha to Navitha as P.
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The interest Navitha owes to Anitha after a year is P*5/100.
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The interest Navitha gets from Radhika after a year is P*812/100.
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The profit Navitha made is the difference between the interest she got from Radhika and the interest she owes to Anitha, which is Rs.350. So, we have the equation:
P812/100 - P5/100 = 350
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Simplifying the equation, we get P*807/100 = 350.
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Solving for P, we get P = 350 * 100 / 807 = Rs. 43.36 approximately.
So, the sum of money lent by Anitha to Navitha is approximately Rs. 43.36.
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