Question

A sum of Rs. 1550 is lent out into two parts, one at 8% and another one at 6%. If the total annual income is Rs. 106, find the money lent at each rate.

Answer 1

Let the sum lent at 8% be Rs. x and that at 6% be Rs. (1550 - x).

((x81)/100) + ((1550-x)61)/100=106

8x + 9300 –6x=10600

2x = 1300

x = 650.

Money lent at 8% = Rs. 650. Money lent at 6% = Rs. (1550 - 650) = Rs. 900