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Italiandrummer97
Bunuel
John lent one part of an amount of money at 10 percent rate of simple interest and the remaining at 22 percent rate of simple interest, both for one year. At what rate was the larger part lent?

(1) The total amount lent was $2400.
(2) The average rate of simple interest he received on the total amount was 15 percent.

Basically, we are asked for the division of the starting sum.
Note that, as in most DS problems, we don't need any calculation but we can just rely on logic, hence making the problem faster to solve.

Process of elimination:
1) We are given the total amount, which doesn't provide the information required. Insufficient.Eliminate A, D
2) We are given the weighted average of the interest rates. This gives us clues about the interest rate on the larger part of the sum. Sufficient. Eliminate C,E.

Correct answer: B



Can u pls explain the option 2 in details and also how to find the solution to this
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Italiandrummer97
Bunuel
John lent one part of an amount of money at 10 percent rate of simple interest and the remaining at 22 percent rate of simple interest, both for one year. At what rate was the larger part lent?

(1) The total amount lent was $2400.
(2) The average rate of simple interest he received on the total amount was 15 percent.

Basically, we are asked for the division of the starting sum.
Note that, as in most DS problems, we don't need any calculation but we can just rely on logic, hence making the problem faster to solve.

Process of elimination:
1) We are given the total amount, which doesn't provide the information required. Insufficient.Eliminate A, D
2) We are given the weighted average of the interest rates. This gives us clues about the interest rate on the larger part of the sum. Sufficient. Eliminate C,E.

Correct answer: B



Can u pls explain the option 2 in details and also how to find the solution to this

Sure :)
If we name: S1= small sum , S2= large sum and TOT= S1 + S2 = whole sum, then we are basically given:

0.15=(S1/TOT)*0.10 + (S2/TOT)*0.22

Having this equation, we can find the solution

Posted from my mobile device
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