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Harshita lent out some money at 6% Simple Interest per annum. After one year, Rs.6800 is repaid and the rest of the amount is repaid at 5% per annum.If the second year’s interest is 11/20 of the first year’s interest, find what amount of money was lent out.
  • a)
    18500
  • b)
    10080
  • c)
    17000
  • d)
    18000
  • e)
    None of the Above
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Harshita lent out some money at 6% Simple Interest per annum. After on...
C. 17000
Explanation: P – amount lent by Harshita I=.06*P —(i) The interest for second year as X=(P+I-6800).05 —(ii) x=(11/20)I —(iii) Put (i) in (ii) and (iii) P = 17,000
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Harshita lent out some money at 6% Simple Interest per annum. After on...
Interest is Rs. 380, how much money did Harshita lend out?

Let the amount of money Harshita lent out be x.

After one year, with a 6% interest rate, Harshita received 6/100*x = 0.06x in interest.

The total amount repaid after one year is x + 0.06x = 1.06x.

The remaining amount repaid at 5% interest per annum for the second year is 1.06x - 6800.

The interest for the second year is 5/100 * (1.06x - 6800) = 0.05 * (1.06x - 6800).

Given that the second year's interest is Rs. 380, we can write the equation as follows:

0.05 * (1.06x - 6800) = 380

Simplifying the equation, we get:

0.053x - 340 = 380

Adding 340 to both sides of the equation, we get:

0.053x = 720

Dividing both sides of the equation by 0.053, we get:

x = 720 / 0.053

x ≈ 13584.91

Therefore, Harshita lent out approximately Rs. 13584.91.
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Harshita lent out some money at 6% Simple Interest per annum. After one year, Rs.6800 is repaid and the rest of the amount is repaid at 5% per annum.If the second year’s interest is 11/20 of the first year’s interest, find what amount of money was lent out.a)18500b)10080c)17000d)18000e)None of the AboveCorrect answer is option 'C'. Can you explain this answer?
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Harshita lent out some money at 6% Simple Interest per annum. After one year, Rs.6800 is repaid and the rest of the amount is repaid at 5% per annum.If the second year’s interest is 11/20 of the first year’s interest, find what amount of money was lent out.a)18500b)10080c)17000d)18000e)None of the AboveCorrect answer is option 'C'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Harshita lent out some money at 6% Simple Interest per annum. After one year, Rs.6800 is repaid and the rest of the amount is repaid at 5% per annum.If the second year’s interest is 11/20 of the first year’s interest, find what amount of money was lent out.a)18500b)10080c)17000d)18000e)None of the AboveCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Harshita lent out some money at 6% Simple Interest per annum. After one year, Rs.6800 is repaid and the rest of the amount is repaid at 5% per annum.If the second year’s interest is 11/20 of the first year’s interest, find what amount of money was lent out.a)18500b)10080c)17000d)18000e)None of the AboveCorrect answer is option 'C'. Can you explain this answer?.
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