Vinod had ₹10,000 with him. He lent a part of it at 8% per annum simple interest and the remaining at 10% per annum. His total annual income was ₹880. Find the sum lent at 8%.

₹6,000

Let sum lent at 8% = x

and sum lent at 10% = ( 10000 - x )

Total Interest gain = 880

Simple Interest = \(\frac{Principal ×Rate × Time }{100}\)

ATQ,

\(\frac{x ×8 × 1 }{100}\) + \(\frac{(10000-x) ×10 × 1 }{100}\) = 880

8x + 100000 - 10x =88000

2x = 12000

x = 6000

So , Sum lent at 8% per annum is Rs. 6000