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Some amount out of Rs. 7000 was lent at 6 % p.a. and the remaining at 4 % p. a. If the total simple interest from both the fractions in 5 years was Rs. 1600, the sum lent at 6 % p. a. was —
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- Rs. 2000
- Rs. 5000
- Rs. 3500
- None of these
- Rs. 2000
Correct Option: A
According to question ,
Average annual rate = | × | % | 7000 | 5 |
Average annual rate = | % | 7 |
∴ (Amount at 6%) : (Amount at 4%) = | : | = 2 : 5 | 7 | 7 |
∴ Sum lent at 6% = Rs. | 700 × | 7 |
Hence, Sum lent at 6% = Rs. 2000.