The bank lent 1,550 partly at 5% and partly at 8% per annum interest. The total interest received by the bank after three years was 300. What is the ratio of money lent at 5% to that lent at 8%? (Hint: Divide 1,550 into two parts; x and 1,550 - x)
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Answer:
Correct option is C)
Let x amount was lent at 5% and 1550−x was lent at 8%
Interest after 3 years =
100
3×5×x
+
100
3×8×(1550−x)
=300
⇒372−
100
9x
=300
⇒x=800
Ratio of Money Lent at 5% to that lent at 8%=
750
800
=
15
16
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