NIFT PG 2013 Question Paper with solutions

Question : 55 of 150

Marks: +1, -0

A sum of ₹ 1550 was lent partly at 5% and partly at 8% per annum simple interest. The total interest received after 3 years was ₹ 300. The ratio of money lent at 5% to that lent at 8% is

31 : 6
8 : 5
5 : 8
16 : 15

Validate

Solution:

Let money lent at 5% interest

=x

So, money lent at 8% interest

=(1550–x)

Total interest earned in 3 years from respective rate of interest

\;\;{x×5×3}/{100}+\;\;{(1550-x)×8×3}/{100}=300

or,

5x+12400–8x=10000

3x=2400

x=800

1550–x=1550–800=750

Ratio of two amount

=800:750=16:15

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