A sum of Rs. 1550 was lent partly at 8% p.a. simple interest. The total interest received after 3 years was Rs. 300. The ratio of the money lent at 5% to that of lent at 8% is __________.
A
5:8
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B
8:5
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C
16:15
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D
31:6
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Solution
The correct option is B16:15 Let the money lent at 5%SI be Rs.x
Interest on Rs.x for 3years=PTR100=x×3×5100=3x20
Money lent at 8% SI is Rs.(1550−x)
Interest on Rs.(1550−x)=(1550−x)×3×8100=6(1550−x)25
Given total interest =Rs.300
⇒3x20+6(1550−x)25=300
⇒15x+24(1550−x)100=300
⇒15x+37200−24x=30000
⇒37200−30000=9x
⇒9x=7200
∴x=800
Hence money lent at 5% SI is Rs.800
Money lent at 8% SI is Rs.(1550−800)=Rs.750
Thus the ratio of money lent at 5% to that of money lent at 8%=800:750=16:15