Question : A sum of INR 900 is divided into two parts such that the interest on the first part at 4% simple interest per annum and that on the other part at 2% simple interest per annum are equal. What is the interest accumulated on each part in a year?
Option 1: INR 18
Option 2: INR 6
Option 3: INR 12
Option 4: INR 20
Correct Answer: INR 12
Solution :
Total sum,
The interest rate on the first part,
The interest rate on the second part,
Time,
Let
Simple interest, SI =
Simple interest on the first part = simple interest on the second part
⇒
⇒
⇒
⇒
Simple interest in each part
=
=
= INR 12
Hence, the correct answer is INR 12.
