A man has ₹15,000. He lends a part of it to X for 3 years at 10% simple interest and the remaining to Y for 3 years at 12% simple interest. If the total interest received from both X and Y after 3 years is ₹4,950, find the amount lent to X.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. ₹7,500.
SI = (P × R × T)/100
Let the amount lent to X = x, then the amount lent to Y = 15000 - x
Interest from X: SI
Interest from Y: SI
So, 0.3x + 0.36(15000 – x) = 4950
⇒ 0.3x + 5400 – 0.36x = 4950
⇒ –0.06x + 5400 = 4950
⇒ –0.06x = –450
⇒ x = 450/0.06 = 7500