Question : A money lender lent INR 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 2650, then what is the amount of money lent at the rate of 8%?
Option 1: INR 6,000
Option 2: INR 5,000
Option 3: INR 4,500
Option 4: INR 5,500
New: SSC CHSL tier 1 answer key 2024 out | SSC CHSL 2024 Notification PDF
Recommended: How to crack SSC CHSL | SSC CHSL exam guide
Don't Miss: Month-wise Current Affairs | Upcoming government exams
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
Correct Answer: INR 5,000
Solution : Given: Principal = INR 30000 Let the money lent at 8% be Rs. $x$, and the money lent at 9% be $(300000-x)$, and the time be 1 year. According to the question, Simple interest on $x$ at 8% + simple interest on $(30000-x)$ at 9% = 2650 ⇒ $\frac{x \times 8 \times 1}{100}+ \frac{(30000-x) \times 9 \times 1}{100}=2650$ ⇒ $\frac{8x}{100}+ \frac{270000-9x}{100}=2650$ ⇒ $ \frac{8x+270000-9x}{100}=2650$ ⇒ $8x+270000-9x=265000$ $\therefore x=5000$ Hence, the correct answer is INR 5,000.
Candidates can download this e-book to give a boost to thier preparation.
Result | Eligibility | Application | Admit Card | Answer Key | Preparation Tips | Cutoff
Question : A certain amount of money was lent for 1 year 9 months at a rate of 10% per annum compounded annually. If the compound interest is INR 1,460, find the amount of money lent.
Question : A man invested INR 4,500 at 5% per annum and INR 5,500 at 8% per annum simple interest. Both investments were for 4 years each. The amount received from the lower rate of interest is what percent (rounded off to the nearest integer) of the amount received from the higher rate
Question : A man deposited INR 10,000 at simple interest in a fund. The interest rate on the fund increases by 4% every year. If the interest rate at the time of the amount deposit was 8%, what is the interest earned (in INR) by him after 5 years?
Question : The difference between the simple and compound interest on a certain sum of money at an $8\%$ rate of interest per annum for two years is INR 56. Find the sum.
Question : A deposited INR 1,56,250 at 8% simple interest for 2 years. How much more money will A have in his account at the end of two years, if at the same rate of interest, the sum is invested in compound interest, compounded annually?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile