Rs. 6000 is lent out in two parts. One part is lent at 7% p.a simple interest and the other is lent at 10% p.a simple interest. The total interest at the end of one year was Rs. 450. Find the ratio of the amounts lent at the lower rate and higher rate of interest?
Answer: 5 : 1
Explanation
Let the amount lent at 7% be Rs. x
Amount lent at 10% is Rs. (6000 – x)
Total interest for one year on the two sums lent
= 7/100 x + 10/100 (6000 – x) = 600 – 3x/100
=> 600 – 3/100 x = 450 => x = 5000
Amount lent at 10% = 1000
Required ratio = 5000 : 1000 = 5 : 1
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