Question
Alok lent out a certain sum. He lent 1/3 of his sum at
7% simple interest, 1/4 at 8% si If ₹510 is his total annual interest, then the total money lent out is:Solution
Let the total money lent be ₹x. 1/3 of x at 7%: Interest = 7x/300 1/4 of x at 8%: Interest = x/50 Remaining = x - ({1/3}x + {1/4}x) = 5x/12 at 10%: Interest = x/24 Total interest = {7x/300} + {x/50} + {x/24} Convert to common denominator (600) = {14x/600} + {12x/600} + {25x/600} = {51x/600} {51x/600} = 510 51x = 306000 x = Rs 6000
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