Ravi lends 2400 on simple interest to Harsh for a period of 5 years. He lends a part of the amount at 4% interest and the rest at 6% and receives 640 as the amount of interest. How much money did he lend on 4% interest rate?

1800

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1600

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1200

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800

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Solution

The correct option is D 800
Interest received per year $= \frac{640}{5} = 128$
Effective interest $% = \frac{128}{2400} \times 100 = 5.33 %$
Required ratio is 1: 2.
Amount of money lent at 4% profit $= \frac{1}{3} \times 2400 = 800$

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Ravi lends 2400 on simple interest to Harsh for a period of 5 years. He lends a part of the amount at 4% interest and the rest at 6% and receives 640 as the amount of interest. How much money did he lend on 4% interest rate?

The correct option is D 800Interest received per year =6405=128 Effective interest %=1282400×100=5.33% Required ratio is 1: 2. Amount of money lent at 4% profit =13×2400=800

The correct option is D 800
Interest received per year $= \frac{640}{5} = 128$
Effective interest $% = \frac{128}{2400} \times 100 = 5.33 %$
Required ratio is 1: 2.
Amount of money lent at 4% profit $= \frac{1}{3} \times 2400 = 800$