📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    âš¡ Month End Offer - Flat 52% Off On All Courses! Enroll Now âš¡
    00:00:00 AM Left

    Question

    Some amount out of Rs. 12000 was lent out at 10% per

    annum and the rest amount @ 16% per annum and thus in 5 years the total interest from both the amount collected was Rs. 7200. What is the amount which was lent out at 10% per annum?
    A Rs.4000 Correct Answer Incorrect Answer
    B Rs.9000 Correct Answer Incorrect Answer
    C Rs.8000 Correct Answer Incorrect Answer
    D Rs.5000 Correct Answer Incorrect Answer

    Solution

    let x be the amount at 10% p.a. So (12000 - x) will be invested on 16% p.a. So (x×10×5)/100+((12000-x)×16×5)/100 = 7200 Or 50x + 960000 – 80 x  = 720000 Or 30x = 240000 so x  = 240000/30 = 8000  Alternative method Overall rate of interest = (12000×R×5)/100 = 7200 R = 12% So by allegation, Money lent @ 10% = 2/3 × 12000 = Rs.8000

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question