Question

A man lent rs 60000 partly at 5% and the rest at 4% simple interest. If the total annual interest is rs. 2560 the money lent at 4% was?

Answer 1

Answer:

the money lent at 4percent was 57 740

Answer 2

Answer:

The money lent at 4% interest rate is 44,000 Rs.

Step-by-step explanation:

In the question,

The total amount, A = 60,000

One part of which is lent at 5% and other at 4% Simple Interest.

So,

Let the part lent at 4% be = x

So,

The part lent at 5% = 60,000 - x

Also,

The total annual interest we have = 2560 Rs.

As we know,

$SI=\frac{PRT}{100}$

where,

P = Principal amount

R = Rate of interest

T = Time in years

So,

Total interest = Interest from 4% + Interest from 5%

$2560=\frac{x\times 4\times1 }{100}+\frac{(60000-x)\times 5 \times 1}{100}\\\\2560=\frac{300000-x}{100}\\\\x=44000$

Therefore, the money lent at the 4% interest rate is equal to 44,000 Rs.