A man had ₹16,000, part of which he lent at 4% and

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A man had ₹16,000, part of which he lent at 4% and the rest at 5% per annum simple interest. If the total interest received was ₹700 in one year, the money lent at 4% per annum was

1. ₹12,000
2. ₹8,000
3. ₹10,000
4. ₹6,000

Correct Option: C

Let the sum lent at 4% = Rs. y
∴ Amount at 5%= (16000 – y )
As we know that ,

∴ SI =	P × T × R
	100

According to the question,

	y × 4 × 1	-	(16000 - y) × 5 × 1	= 700
	100		100

⇒ 4y + 80000 – 5y = 70000
⇒ y = 80000 – 70000 = ₹ 10000