Question
Some amount out of Rs. 15000 was lent out at 10% per
annum and the rest amount @ 16% per annum and thus in 4 years the total interest from both the amount collected was Rs. 6000. What is the amount which was lent out at 10% per annum?Solution
Let x be the amount at 10% p.a. So (15000 - x) will be invested in 16% p.a. So (x×10×4)/100+((15000-x) ×16×4)/100 = 6000 Or 40x + 960000 – 64x = 600000 Or 24x = 360000 so, x = 360000/24 = 15000
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