A sum of Rs.1550 was lent partly at 8% p.a. simple interest. The total interest

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Question
A sum of Rs.1550 was lent partly at 8% p.a. simple interest. The total interest received after 3 years was Rs.300. The ratio of the money lent at 5% to that lent at 8% is :
Options
A. 5:8
B. 6:7
C. 16:15
D. 17:18

Correct Answer

16:15

Explanation

let the sum lent at 5% be Rs.x and that lent at 8% be Rs.(1550-x). then,

Interest on x at 5% for 3 years + interest on (1550-x) at 8% for 3 years = 300

$\frac{x * 5 * 3}{100} + \frac{(1500 - x) * 8 * 3}{100} = 300$

x=800

Required ratio = x : (1550-x) = 800 : (1550-800) = 800 : 750 = 16 : 15

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Simple Interest problems

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1. Find: S.l. on Rs 6250 at 14% per annum for 146 days.
Options
A. Rs.350
B. Rs.450
C. Rs.550
D. Rs.650

Discuss

2. A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 614 p.a for 2 years. Find his gain in the transaction per year
Options
A. Rs. 112.50
B. Rs.150.25
C. Rs.167.50
D. Rs.170

Discuss

3. Simple interest on a certain sum is 16/25 of the sum. Find the rate percent and time, If both are numerically equal.
Options
A. Rate = 7% and Time = 7 years.
B. Rate = 8% and Time = 8 years.
C. Rate = 6% and Time = 6 years.
D. Rate = 5% and Time = 5 years.

Discuss

4. A certain sum of money amounts to Rs 1008 in 2 years and to Rs 1164 in 3 � years. Find the sum and the rate of interest.
Options
A. 800, 14%
B. 800, 13%
C. 800, 12%
D. 800, 19%

Discuss

5. A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:
Options
A. Rs.2000
B. Rs.10000
C. Rs.15000
D. Rs.20000

Discuss

6. How much time will take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest ?
Options
A. 4 years
B. 2.5 years
C. 3.5 years
D. 2 years

Discuss

8. A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned?
Options
A. Rs.35
B. Rs.245
C. Rs.350
D. cannot be determined

Discuss

9. The difference between the simple interest received from two different sources on Rs.1500 for 3 years is Rs.13.50. The difference between their rates of interest is
Options
A. 0.1%
B. 0.2%
C. 0.3%
D. 0.4%

Discuss

10. A father left a will of Rs.35 lakhs between his two daughters aged 8.5 and 16 such that they may get equal amounts when each of them reach the age of 21 years. The original amount of Rs.35 lakhs has been instructed to be invested at 10% p.a. simple interest. How much did the elder daughter get at the time of the will?
Options
A. 17.5 lakhs
B. 21 lakhs
C. 15 lakhs
D. 20 lakhs

Discuss

Correct Answer: 21 lakhs

Explanation:

Let Rs.x be the amount that the elder daughter got at the time of the will. Therefore, the younger daughter got (3,500,000 - x).

The elder daughter?s money earns interest for (21 - 16) = 5 years @ 10% p.a simple interest.

The younger daughter?s money earns interest for (21 - 8.5) = 12.5 years @ 10% p.a simple interest.

As the sum of money that each of the daughters get when they are 21 is the same,

$x + \frac{5 * 10 * x}{100} = (3, 500, 000 - x) + \frac{12.5 * 10 * (3, 500, 000 - x)}{100}$

$x + \frac{50}{x} = 3, 500, 000 - x + \frac{125}{100} * 3, 500, 000 - \frac{125 x}{100}$

$2 x + \frac{50 x}{100} + \frac{125 x}{100} = 3, 500, 000 * (1 + \frac{5}{4})$

$\frac{200 x + 50 x + 125 x}{100} = \frac{9}{4} * (3, 500, 000)$

=> $x = 2, 100, 000 = 21 l a k h s$

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A sum of Rs.1550 was lent partly at 8% p.a. simple interest. The total interest received after 3 years was Rs.300. The ratio of the money lent at 5% to that lent at 8% is :

Simple Interest problems

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A sum of Rs.1550 was lent partly at 8% p.a. simple interest. The total interest received after 3 years was Rs.300. The ratio of the money lent at 5% to that lent at 8% is :

Simple Interest problems

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