A sum of Rs. 21500 was lent partly at 4% p.a. simple interest and the…
2020
A sum of Rs. 21500 was lent partly at 4% p.a. simple interest and the remaining at 6% p.a. simple interest. The total interest received after 3.5 years is Rs. 3521. The sum lent at 6% p.a. is:
- A.
8000
- B.
7550
- C.
7700
- D.
7300
Attempted by 2 students.
Show answer & explanation
Correct answer: D
Let Rs. x be lent at 6% p.a.
Then Rs. (21500 - x) is lent at 4% p.a.
Total simple interest for 3.5 years: x × 6% × 3.5 + (21500 - x) × 4% × 3.5 = 3521.
0.21x + 0.14(21500 - x) = 3521.
0.21x + 3010 - 0.14x = 3521.
0.07x = 511, so x = 7300.