A man lends out an amount of Rs. 25,000 in two parts. The first part of the money is lent out at 8%…
Let x be lent at 8 percent and \(25000-x\) at 8.5 percent. Then \(0.08x + 0.085(25000-x) = 2031.25\), which gives \(2125 - 0.005x = 2031.25\) and so \(x = 18750\). The…
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A man lends out an amount of Rs. 25,000 in two parts. The first part of the money is lent out at 8% simple interest and the second part of the money is lent out at 8.5% simple interest. If total annual income of the man is Rs. 2031.25, then find how much money is lent out at the rate of 8.5%?
Answer and explanation
Correct answer D
Let x be lent at 8 percent and at 8.5 percent. Then , which gives and so . The amount lent at 8.5 percent is therefore rupees.
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