question_answer

A person had Rs. 8400. He lent a part of it at 4% and the remaining at \[3\frac{1}{3}%\] simple interest. His total annual income was Rs. 294. Find the sum he lent at 4%.

A) Rs. 2310

B) Rs. 2110

C) Rs. 2500

D) Rs. 2100

Correct Answer: D

Solution :

[d] SI on Rs. 8400 for 1 yr = Rs. 294 \[\therefore \] Rate of interest \[=\frac{100\times 294}{8400\times 1}=\frac{7}{2}=3\frac{1}{2}%\] Rate I (4%) : Rate II \[\left( \frac{10}{3}% \right)\] \[=\frac{1}{6}:\frac{1}{2}=1:3\] \[\therefore \] Money lent at 4% \[=\frac{1}{4}\times 8400\] = Rs. 2100