A sum of Rs. 1000 was lent to two people, one at the rate of 5 % and other at the rate of 8 %. If the simple interest after one year is Rs. 62, find the sum lent at 8% rate.Question 13Answera.400b.450c.420d.550
Question
A sum of Rs. 1000 was lent to two people, one at the rate of 5 % and other at the rate of 8 %. If the simple interest after one year is Rs. 62, find the sum lent at 8% rate.Question 13Answera.400b.450c.420d.550
Solution
Let's denote the sum lent at 5% as x and the sum lent at 8% as 1000 - x (since the total sum is Rs. 1000).
The simple interest is calculated as (Principal * Rate * Time) / 100. In this case, the time is 1 year for both loans, so we can simplify the formula to (Principal * Rate) / 100.
The total interest from both loans is Rs. 62, so we can set up the following equation:
(x * 5 / 100) + ((1000 - x) * 8 / 100) = 62
Solving this equation will give us the value of x, which is the sum lent at 5%. Subtracting x from 1000 will give us the sum lent at 8%.
Let's solve the equation:
5x/100 + 80 - 8x/100 = 62 (5x - 8x)/100 = 62 - 80 -3x = -1800 x = 600
So, the sum lent at 5% is Rs. 600. Therefore, the sum lent at 8% is 1000 - 600 = Rs. 400.
So, the answer is a. 400.
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