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Simple Interest Practice Test 1
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© examsnet.com
Question : 16
Total: 40
A sum of Rs. 1550 is lent out into two parts, one at 8% and another one at 6%. If the total annual income is Rs. 106, find the money lent at each rate.
Rs. 500, Rs. 1000
Rs. 600, Rs. 950
Rs. 650, Rs.900
Rs. 700, Rs. 950
Validate
Solution:
Let Rs. x and Rs (1550 – x) are lent out at 8% and 6% respectively.
Then,
x
×
8
×
1
100
+
(
1550
−
x
)
×
6
×
1
100
=
106
⇒
8
x
+
9300
−
6
x
=
10600
⇒ 2x = 1300
∴ x = Rs. 650 and 1550 – x = 1550 – 650 = Rs. 900
Hence, required two parts are, Rs. 650 and Rs. 900
© examsnet.com
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