A sum of was lent partly at and the rest at simple interest. The total interest received after years from both was . What was the ratio of money lent at and ?
- A10 : 13
- B11 : 12
- C14 : 9
- D31 : 38
Solution & Step-by-step Explanation
Total interest received in years = .Therefore, total interest received per year:
Let us find the overall effective annual rate of interest () on the total sum of :
Using the method of alligation:Rate of first part () = Rate of second part () = Mean rate () = $
Let us find the overall effective annual rate of interest () on the total sum of :
Using the method of alligation:Rate of first part () = Rate of second part () = Mean rate () = $