Mukul lent ₹9,300 on simple interest in two parts. He earned interest at 5% per annum on the first part and at 8% per annum on the second part. The total interest he received after 4 years is ₹2,400. What is the ratio of the money lent at 5% to that lent at 8%?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 16 : 15
Let's assume he lend money at 5% is Rs x, on 8% in Rs (9300 - x).
ATQ,
(x × 5 × 4)/100 + {(9300 - x) × 8 × 4}/100 = 2400
4/100 ( 5x + 74400 - 8x) = 2400
-3x = 60000 - 74400
x = 4800
Required ratio = 4800 : (9300 - 4800) = 4800 : 4500 = 16 : 15