Question 26
A sum of ₹15,000 is lent out in two parts, one at 6% p.a. and the other at 10% p.a. simple interest. If the total interest after 1 year is ₹1,100, find the sum lent at 10% p.a.
Step-by-Step Solution
CONCEPT USED
Simple Interest
STEP-BY-STEP SOLUTION
If all ₹15,000 were lent at 6%, interest = ₹900 . Difference = 1100 - 900 = ₹200 . Rate diff = 10% - 6% = 4%. Part at 10% = 200 / 0.04 = ₹5,000 .
FINAL