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Difficulty:
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Question Stats:
40% (01:50) correct
60%
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Part of a sum was lent at 6% per annum and the remaining was lent at 4% per annum, both at simple interest. Find the sum lent at 6% per annum.
1) Total sum was lent 7000$
2) Total Simple Interest was 1600$
1) Total sum was lent 7000$
2) Total Simple Interest was 1600$
28 Jan 2020, 23:29
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The formula to find out simple interest is given by SI = \(\frac{PTR }{ 100}\) where P is the principal/sum, T is the time period and R is the rate of interest expressed as % per annum. To be able to calculate the simple interest, we need information about all of the above.
From the question, we understand that the sum has been split into two parts which are being lent out at 6% pa and 4%pa SI respectively. We do not have any information about time and principal.
From statement I alone, we know that Principal = $7000. But, we do not have any information about the total SI earned or the time for which the principal was invested. Hence, statement I alone is insufficient.
Answer options A and D can be eliminated. The possible answer options are B, C or E.
From statement II alone, we know that the total SI = $1600. But, we do not have data about the Principal and the time. Statement II alone is insufficient.
Answer option B can be eliminated. Possible answer options are C or E.
Combining the data from statement I and II, we have the following:
From statement I, we know that Principal = $7000. From statement II, we know that the total SI = $1600.
However, we still have no information about time. We don’t know whether we obtained $1600 on $7000 in 1 years or more. Therefore, the combination of statements is insufficient.
Answer option C can be eliminated. The correct answer option is E.
Hope that helps!
From the question, we understand that the sum has been split into two parts which are being lent out at 6% pa and 4%pa SI respectively. We do not have any information about time and principal.
From statement I alone, we know that Principal = $7000. But, we do not have any information about the total SI earned or the time for which the principal was invested. Hence, statement I alone is insufficient.
Answer options A and D can be eliminated. The possible answer options are B, C or E.
From statement II alone, we know that the total SI = $1600. But, we do not have data about the Principal and the time. Statement II alone is insufficient.
Answer option B can be eliminated. Possible answer options are C or E.
Combining the data from statement I and II, we have the following:
From statement I, we know that Principal = $7000. From statement II, we know that the total SI = $1600.
However, we still have no information about time. We don’t know whether we obtained $1600 on $7000 in 1 years or more. Therefore, the combination of statements is insufficient.
Answer option C can be eliminated. The correct answer option is E.
Hope that helps!
12 Nov 2025, 23:19
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A member just gave Kudos to this thread, showing it’s still useful. I’ve bumped it to the top so more people can benefit. Feel free to add your own questions or solutions.
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A member just gave Kudos to this thread, showing it’s still useful. I’ve bumped it to the top so more people can benefit. Feel free to add your own questions or solutions.
This post was generated automatically.
