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A sum of Rs. 5,000 was lent partly at 5% simple interest per annum and partly at 10% simple interest per annum. Total interest received after 5 years was Rs. 1,750. Find the amount of money that was lent out at 10% simple interet per annum.
1. Rs. 2,500
2. Rs. 2,000
3. Rs. 3,000
4. Rs. 3,500

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Correct Answer - Option 2 : Rs. 2,000

Given:

Total interest received after 5 years = Rs.1750

Formula:

Let P = Principal, R = rate of interest and N = time period

Simple interest = PNR/100

Calculation:

Let amount lent out at 10% simple interest be Rs.a.

Amount lent out at 5% simple interest = Rs(5000 - a)

⇒ 1750 = (a × 10 × 5)/100 + [(5000 - a) × 5 × 5/100]

⇒ 1750 × 100/5 = 10a + 25000 - 5a

⇒ 5a = 10000

⇒ a = 2000

∴ Amount lent out at 10% simple interest is Rs.2000.

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