Multiple choice

A part of ₹ 1500 was lent at 10% per annum and the rest at 7% per annum simple interest. The total interest earned in three years was ₹ 396. The sum lent at 10% was

  1. ₹ 900

  2. ₹ 800

  3. ₹ 700

  4. ₹ 600
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A Correct answer
Explanation

Let x be the amount at 10%. Interest = (x * 10 * 3)/100 + ((1500-x) * 7 * 3)/100 = 396. Solving: 30x + 31500 - 21x = 39600, so 9x = 8100, x = 900.

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