A sum of Rs. 2540 is lent out into two parts. One at 12% and another one at 12 1/ 2 %. If the total annual income is Rs. 311.60, the money lent at 12% is?
Correct Answer: Rs. 1180
Explanation:
Let money lent at 12% Rs. P
Then, money lent at 121/2% = Rs. (2540 - P )
∵ (P x 12 x 1)/100 + {(2540 - P) x 25/2 x 1}/100 = 311.60
⇒ 3P/25 + 2540 - P/8 = 311.60
⇒ 24P + 25(2540 - P) = 200 x 311.60
∴ P = 63500 - 62320 = 1180
