Question

A sum of Rs.1550 was lent partly at 8% p.a. simple interest. The total interest received after 3 years was Rs.300. The ratio of the money lent at 5% to that lent at 8% is :

A) 5:8 B) 6:7 C) 16:15 D) 17:18

Answer 1

Answer: C) 16:15

Explanation:

let the sum lent at 5% be Rs.x and that lent at 8% be Rs.(1550-x). then,

Interest on x at 5% for 3 years + interest on (1550-x) at 8% for 3 years = 300

x*5*3100+(1500−x)*8*3100=300

x=800

Required ratio = x : (1550-x) = 800 : (1550-800) = 800 : 750 = 16 : 15