Ravi lends Rs. 10,000 to two of his friends. He gives Rs.5,000 to the first at 15% p.a. simple interest. Ravi wants to make a profit of 20% on the whole. The simple interest rate at which he should lend the remaining sum of money to the second friend is

Let Ravilend the sum at x% rate to the second friend. According to the question, 15% × 5000 + x% of 5000 = 20% of 10000 ⇒ 15 × 50 + 50x = 20 × 100 ⇒ 50x = 2000 – 750 ⇒ 50x = 1250 ⇒ x = 25 Hence, the required rate of interest is 25% p.a.

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- Ajay invested Rs.a in SI at 7% rate of interest per annum for 9 years. Vishal invested the same amount in SI at 5% rate of interest per annum for 3 years and the difference between the interest obtained by Ajay and Vishal is Rs.2400. Find the amount invested by Vishal.
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- A certain sum of money becomes 5 times of itself in 25 years at simple interest. In how many years does it become double of itself at the same rate of simple interest?
- Veeru invested Rs. 3100 at 20% p.a. simple interest for 3 years. After 3 years, he invested the amount received by him at the 20% p.a. compound interest, compounded annually for another 2 years. Find the final amount received by Veeru at the end of 5 years.
- The difference between the compound interest, compounded annually and simple interest on Rs. ‘P’ at the rate of 30% p.a. for 2 years, is Rs. 180. If Rs. (P + 1000) is invested at the same rate p.a., then find the compound interest, compounded annually earned after 3 years.

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