Simple Interest Practice Test 3

Question : 1 of 40

Marks: +1, -0

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

⇒24x + 23250 -15x = 30000

⇒9x=6750

⇒x=750

Go to Question:

Next Question