Question

Kiran lends rs 1000 on simple interest to harish for a period of 5 years.She lends a part of the amount at 2%

Answer 1

Answer:

Assuming the total amount was given at the rate of 2% , then the interest would have be given by the formula

Interest(I) = PRT/100

I= 1000×2×5/100

I= 10,000/100

I=rs 100.00

Answer 2

Incomplete question:

Kiran lends ` 1000 on simple interest to Harsh for  a period of 5 years. She lends a part of the amount  at 2% interest and the rest at 8% and receives ` 300  as the amount of interest. How much money did she lend on 2% interest rate?

Answer:

333.33 Rs

Step-by-step explanation:

The concepts used to solve this would be a) Simple Interest b) Alligations

We know he got total interest after 5 years as 300. As the simple interest across years remain same the per year SI here would be 300/5 = 60 Rs.

This 60 Rs is 6% of 1000 which was the principle so we know the rate of interest is 6%

The second concept used here is Alligations. If unfamiliar with this topic you would want to first understand the basics of alligations before understanding the further part.

Some part with 2% interest was mixed with another part with 8% interest to get an output of 6% interest. Here we need to find the ratios in which 2% amount and 8% amount were mixed.