Question
Download Solution PDFA money lender lent Rs. 30,000 in two parts, one at the rate of 8% and the other at 9%. If the total annual simple interest on the amount is Rs. 2,650, then what is the amount of money lent at the rate of 8%?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven
Principal = 30000
Rate = 8% and 9%
Interest = 2650
Formula used
S.I. = (P × R × T)/100
Calculation
Let money lender lend Rs. 'a' at 8% and Rs. (30000 – a) at 9% interest
S.I. = (P × R × T)/100
⇒ 2650 = (a × 8 × 1)/100 + ((30000 – a) × 9 × 1)/100
⇒ 265000 = a × 8 × 1 + (30000 – a) × 9 × 1
⇒ 265000 = 8a + 270000 – 9a
⇒ a = 5000
The amount of money lent at the rate of 8% is 5000.
Last updated on May 28, 2025
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