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      Question

      Ravi lends Rs. 4800 to two of his friends. He gives

      Rs.2400 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
      A 25% Correct Answer Incorrect Answer
      B 12.5% Correct Answer Incorrect Answer
      C 37.5% Correct Answer Incorrect Answer
      D 6.25% Correct Answer Incorrect Answer
      E 18.75% Correct Answer Incorrect Answer

      Solution

      Let Ravi lend the sum at x% rate to the second friend.┬а According to the question,┬а 15% ├Ч 2400 + x% of 2400 = 20% of 4800 тЗТ┬а 15 ├Ч 24 + 24x = 20 ├Ч 48 тЗТ┬а 24x = 960 тАУ 360 тЗТ┬а 24x = 600┬а тЗТ┬а x = 25┬а Hence, the required rate of interest is 25% p.a.

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