Multiple choice

Out of Rs. 7000, some amount was lent at 6% per annum and the remaining was lent at 4% per annum. Calculate the sum lent at 6% per annum, if the total simple interest from both the fractions in 5 years was Rs. 1600.

  1. Rs. 2000

  2. Rs. 3000

  3. Rs. 2500

  4. Rs. 5000

  5. Rs. 5500
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A Correct answer
Explanation

Let x be the amount at 6%. Then (7000-x) is at 4%. Interest = (x * 6 * 5)/100 + ((7000-x) * 4 * 5)/100 = 1600. 30x + 140000 - 20x = 160000. 10x = 20000, so x = 2000.

AI explanation

Let the sum lent at 6% be x, making the sum lent at 4% equal to (7000 - x). Using the simple interest formula, the total interest equation becomes (x * 6 * 5)/100 + ((7000 - x) * 4 * 5)/100 = 1600. Simplifying this gives 30x + 140000 - 20x = 160000, resulting in 10x = 20000, so the sum lent at 6% is Rs. 2000.

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