Question
Download Solution PDFA lent part of Rs.26400 to X at 12% simple interest. Rest to Y at 9% at simple interest. After 3 years he got an amount of Rs.34320 in total. Then what is the amount lent to Y? (In Rs.)
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
SI = PRT / 100
Calculation:
Let the amount lent to Y be "y"
⇒ [(26400 - y) × 12% × 3] + (y × 9% × 3) = 34320 - 26400
⇒ [(26400 - y) × 12 × 3] + 27y = 7920 × 100
⇒ 950400 - 36y + 27y = 792000
⇒ 158400 = 9y
⇒ y = Rs. 17600
∴ The amount lent to Y is Rs. 17600
Alternate Method S.I. = 34320 - 26400 = 7920 in 3 years
SI in 1 year = 7920 / 3 = Rs. 2640
Rate of interest = (2640 / 26400) × 100% = 10%
The amount lent to Y = \(\frac {2}{1 + 2} × 26400\)
⇒ 2 × 8800
⇒ 17600
∴ The amount lent to Y is Rs. 17600
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