Some part of Rs 9500 was lent at the rate of 15% per annum simple interest and the remaining part at the rate of 20% per annum simple interest. The total interest received after
2
3
years is Rs 2565. What is the ratio of money lent at the rate of 15% and 20%?
- A11:8
- B12:7
- C2:3
- D5:4
Solution & Step-by-step Explanation
Let the amount lent at 15% be P
1
and the amount lent at 20% be P
2
.
Total principal P=P
1
+P
2
=9500.
Total time T=
2
3
years.
Total Interest = Rs 2565.
First, let's find the overall effective annual interest rate (R):
Total Interest=
100
P×R×T
2565=
100
9500×R×
2
3
2565=95×R×1.5
2565=142.5×R
R=
142.5
2565
=18%
Now, applying the rule of Alligation:
Rate of Part 1 (R
1
) = 15%
Rate of Part 2 (R
2
) = 20%
Mean Rate (R) = 18%
P
2
P
1
=
R−R
1
R
2
−R
=
18−15
20−18
=
3
2
Thus, the ratio of money lent at 15% and 20% is 2:3.
1
and the amount lent at 20% be P
2
.
Total principal P=P
1
+P
2
=9500.
Total time T=
2
3
years.
Total Interest = Rs 2565.
First, let's find the overall effective annual interest rate (R):
Total Interest=
100
P×R×T
2565=
100
9500×R×
2
3
2565=95×R×1.5
2565=142.5×R
R=
142.5
2565
=18%
Now, applying the rule of Alligation:
Rate of Part 1 (R
1
) = 15%
Rate of Part 2 (R
2
) = 20%
Mean Rate (R) = 18%
P
2
P
1
=
R−R
1
R
2
−R
=
18−15
20−18
=
3
2
Thus, the ratio of money lent at 15% and 20% is 2:3.