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₹10,000 is lent partly at 8% and partly at 12% simple interest per annum. The total interest for one year is ₹1,040. How much was lent at 8%?

Competition practiceSimple & Compound Interest

A₹6,000
B₹4,500
C₹4,000
D₹5,000

Step-by-Step Solution

Average rate

= 10.4%

. 8% part : 12% part

= (12 - 10.4) : (10.4 - 8) = 2 : 3

. At 8%:

10000 \times \frac{2}{5} = ₹4000

.

Answer: C) ₹4,000

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