Out of Rs. 8800, Samar lent some of it at a simple interest of 11% per annum and remaining at a simple interest of 7% per annum. If he received Rs. 4824 as the total simple interest at the end of 6 years, then find the sum he lent at 11% per annum.
- AOption (a)
4700
- BOption (b)
4800
- COption (c)
5000
- DOption (d)
5200
- EOption (e)
5800
View answer & explanationHide answer & explanation
Correct answer
4700
Why this answer is correct
Shortcut Trick
Total Interest for 1 year = 4824 Γ· 6 = βΉ804
Overall Average Rate = (804 Γ· 8800) Γ 100 = 201/22 %
Using Alligation: (11% β 201/22%) : (201/22% β 7%) = 41/22 : 47/22 = 47 : 41
Sum at 11% = (47 Γ· 88) Γ 8800 = βΉ4700
β΄ The correct answer is βΉ4700.
Alternate Method
Given: Total Principal = βΉ8800, Total Time = 6 years, Total SI = βΉ4824
Formula: SI = (P Γ R Γ T) Γ· 100
β Let sum at 11% be x and sum at 7% be (8800 β x)
β [(x Γ 11 Γ 6) Γ· 100] + [((8800 β x) Γ 7 Γ 6) Γ· 100] = 4824
β 66x + 42(8800 β x) = 482400
β 66x + 369600 β 42x = 482400
β 24x = 482400 β 369600
β 24x = 112800
β x = 112800 Γ· 24 = 4700
β΄ The correct answer is βΉ4700.
Additional Information
Simple Interest Formula
The basic formula is SI = P Γ R Γ T / 100, where P is principal, R is rate per annum, and T is time in years.
Alligation in Interest
When a sum is divided into two parts with different rates, the ratio of the parts is found by the difference between individual rates and the average rate.
Effective Rate of Interest
The effective rate for a period is R Γ T. For 11% over 6 years, the total interest is 66% of the principal part.
