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Simple Interest Practice Test 3
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© examsnet.com
Question : 1
Total: 40
Out of the sum of Rs. 1550, a part was lent out at 5% p.a. simple interest and the remaining at 8% p.a. simple interest. If the total interest in both cases after 3 years is Rs. 300, the sum of money lent out at 8% p.a. simple interest was:
Rs. 760
Rs. 775
Rs. 750
Rs. 780
Validate
Solution:
Let Rs. x and Rs (1550 – x) were lent out at 8% and 5% respectively; then
x
×
8
×
3
100
+
(
1550
−
x
)
×
5
×
3
100
=
300
⇒
24
x
+
23250
−
15
x
=
30000
⇒
9
x
=
6750
⇒
x
=
750
© examsnet.com
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