Question
A sum of Rs 15,000 is divided into two parts and lent at simple interest. One part is lent at 8% p.a. for 2 years, and the remaining part at 12% p.a. for 3 years. The total interest received from both parts together is Rs 3,600. How much was lent at 12% p.a.?
Solution
Let amount at 12% = y Then amount at 8% = 15000 − y Interest at 8% for 2 years: I₁ = (15000 − y) × 8 × 2 /100 = 0.16(15000 − y) Interest at 12% for 3 years: I₂ = y × 12 × 3 /100 = 0.36y Total interest: 0.16(15000 − y) + 0.36y = 3600 2400 − 0.16y + 0.36y = 3600 2400 + 0.20y = 3600 0.20y = 1200 y = 6000 So, Rs 6,000 was lent at 12% p.a.
More Simple and compound interest Questions
- Rs. 9500 is invested in scheme ‘A’ for 3 years and Rs. 8000 is invested in scheme ‘B’ for 2 years. Scheme ‘A’ offers simple interest of 16% p.a. If the int...
- A person invested Rs. 16500 in the simple interest for 3 years at the rate of 19% per annum. If the interest received is Rs. 940Z, then find the value of Z...
- A sum of Rs. x is invested at simple interest at 9% per annum for 5 years. If another sum of Rs. (x + 200) is also invested at the same rate for the same t...
- Rs. 'x' is invested in scheme 'A' offering simple interest such that interest earned after 5 years is Rs. 600. If the amount received is further invested i...
- Anita and Rohan each invested a sum of ₹12,000 for 2.5 years at 20% compound interest per annum. However, while for Anita the interest was compounded annua...
- If the difference between the simple interest and compound interest, compounded annually, on Rs. 40,000 at (r + 4)% rate of interest for 2 years is Rs. 256...
- Roshan and Rahul received marks in their quarterly exam in a ratio of 9:8. Additionally, the ratio of marks Roshan obtained in the quarterly exam to the ma...
- Atul has Rs.350 with him. He invested 20% of the amount at 5% p.a. for 8 years and rest at 10% p.a. for 5 years. Find the sum of simple interests received ...
- An investment of Rs. 8,430 is made in a Mutual Fund, offering a 10% per annum simple interest rate for 'p' years, while another investment of Rs. 8,800 is ...
- A sum of money invested for 2 years at 20% compounded annually and similar money invested for 3 years on simple interest at 10% per annum. If the differenc...
