Word Problem 12
Problem 12: A sum of Rs 1550 was lent partly at 5% and partly at 8% simple interest. The total interest received after 3 years was Rs 300. The ratio of amounts lent at 5% and 8% is;
a. 5:8 b. 8:5 c.31:6 d. 16:15
Solution:
simple arithmetic questions and answers
R1=5%
R2=8%
Total Simple Interest = Rs 300
Time = 3 years
Money lent at 5% : Money lent at 8% =?
We start by supposing that;
So,
So, for first amount;
For second amount part;
So,
But Yearly interest is calculated by dividing total interest by number of years!
From given data we can calculate it as;
This interest of given data and our calculated total interests should be same;
Solving for ‘y’
So, money lent at 5% interest is Rs 800 and money lentat 8% interest is 1550-y = 1550-800= Rs 750
Their ratio is;
800:750
which finally settles to be
16:15
