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Kiran lent ₹4,000 to two persons, one part at the rate of 8% per annum and the remaining part at the rate of 10% per annum. He got an annual simple interest of ₹352. Then the sum lent at 10% is:
- ₹1,800
- ₹2,200
- ₹2,400
- ₹1,600
Correct answer: ₹1,600
Solution
If \(x\) is lent at 10%, then \(4000-x\) is lent at 8%. The total simple interest for one year is \(0.10x+0.08(4000-x)=352\), which gives \(x=1600\).
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