A moneylender lent 30,000 in two parts, one at the rate of 8% and the other at 9%. If the total annual simple interest on the amount is 2,650, then what is the amount of money lent at the rate of 8%?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. ₹5,000.
SI = (P × R × T)/100
Let the moneylender lend Rs. P at 8% and Rs. (30000 - P) at 9% interest.
[(P × 8 × 1)/100] + [(30000 - P) × 9 × 1)/100] = 2650
⇒ 8P + 9(30000 - P) = 265000
⇒ 8P + 270000 - 9P = 265000
⇒ P = 5000
Hence, the amount of money lent at the rate of 8% is ₹5,000.