Ravi lends 3600 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 960 as the amount of interest. How much money did he lend on 4% interest? Can someone help me with this question?
Applying the simple interest formula by taking x as the principal amount in the case where lends the amount at 4% interest and 3600 - x as the principal in the case where he lends the amount at 6% interest. These two interests should add up to 960. From this, we can find out the value of x which is 1200. Hence the money he lent on 4% interest is Rs. 1200
Ravi lends 3600 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 960 as the amount of interest. How much money did he lend on 4% interest? Can someone help me with this question?
Applying the simple interest formula by taking x as the principal amount in the case where lends the amount at 4% interest and 3600 - x as the principal in the case where he lends the amount at 6% interest. These two interests should add up to 960. From this, we can find out the value of x which is 1200. Hence the money he lent on 4% interest is Rs. 1200