Question

Out of 7000, some amount was lent at 6% per annum and the remaining at 4% per annum. If the total simple interest from both the fractions in 5 years was 1600, find the sum lent at 6% per annum.

• A. 5000
• B. 34000
• C. 3000
• D. 2000

Answer 1

Answer:

D. 2000

Overall rate of interest=(1600 x 100)/(5x7000) - 32/7% Ratio of two amounts = 2:5 Amount lent at 6%=7000 x 2/7 = 2000