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Miss Agna lend an amount of Rs. 20,000 divided amongst two borrowers A and B at simple interest rate of 12% and 6% per annum respectively. If the total amount of simple interest earned in 2 years be Rs. 3840, how much amount was lend to A?

Miss Agna lend an amount of Rs. 20,000 divided amongst two borrowers A and B at simple interest rate of 12% and 6% per annum respectively. If the total amount of simple interest earned in 2 years be Rs. 3840, how much amount was lend to A? Correct Answer Rs. 12000

Given:

Total Principal = Rs. 20,000

Simple interest for A = 12%

Simple interest for B = 6%

Time = 2 years

Total Amount = Rs. 3840

Formula Used:

Simple interest = (Principal × Rate × Time)/100

Calculation:

Let the amount lend to A be Rs. α 

Amount lend to B = Rs. (20000 – α) = principal amount for B

We know that, Simple interest = (Principal × Rate × Time)/100

Simple interest for A = (α × 12 × 2)/100 = 0.24α

Simple interest for B = /100 = 2400 – 0.12α

Total interest = simple interest for A + simple interest for B

⇒ 3840 = 0.24α + 2400 – 0.12α

⇒ 0.12α = 3840 – 2400

⇒ α = 1440/0.12 = Rs. 12,000

∴ Amount lend to A is Rs. 12,000.

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