Rs. 3000 was divided and given on loan at interest rates of 11% and 12% p.a. for one year.

Total interest earned at the end of the 1st year is Rs. 348. Find the amount let out with 12% interest.

Correct option is D

Given:
Total principal = Rs. 3000
Part of the amount is lent at 11% p.a.
The remaining amount is lent at 12% p.a.
Total interest earned = Rs. 348
Time = 1 year
Concept Used:
Simple Interest (SI) formula:
SI = (P × R × T) / 100
where:
P = Principal amount
R = Rate of interest
T = Time in years
Formula Used:
Let x be the amount lent at 12% interest, so the remaining amount (3000 - x) is lent at 11% interest.
Total interest equation:
(x × 12 × 1) / 100 + ((3000 - x) × 11 × 1) / 100 = 348
Solution:
(x × 12) / 100 + ((3000 - x) × 11) / 100 = 348

Multiply by 100 to remove fractions:

12x + 11(3000 - x) = 34800

12x + 33000 - 11x = 34800

x + 33000 = 34800

x = 34800 - 33000

x = 1800

Answer:
(d) Rs. 1,800