Question

Ravi lends Rs. 16000 to two of his friends. He gives Rs.8000 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

Q: Answer-Ravi lends Rs. 16000 to two of his friends. He gives Rs.8000 to the first at 15% p.a. simple interes...

Let Ravi lend the sum at x rate to the second friend. According to the question, 15 8000 x of 8000 20 of 16000 15 80 80x 20 160 80x 3200 1200 80x 2000 x 25 Hence, the required rate of interest is 25 p.a.

A 25%

B 12.5%

C 37.5%

D 6.25%

E 18.75%

Practice Next

More Simple and compound interest Questions

A total amount of Rs.39,800 is split among three siblings named 'Ajay', 'Bijay', and 'Chetna'. 'Ajay' receives an amount that is in the ratio of 7:8 compar...
Find the simple interest and the amount on Rs 4,000 at 9% per annum for 2 years.
The simple interest received on a certain sum is Rs. 480 less than the sum invested. If the sum was invested at 12% p.a. for 7 years, then find the simple ...
A took a loan of Rs.4450 at simple interest of 10% p.a. and invested the same money in a scheme at simple interest of 20% p.a. Find the profit earned by A ...
A sum of money was lent at simple interest for 5 years. If the rate had been 6% more, the interest would have been Rs. 900 higher. What was the amount lent...
What is the interest earned when Rs. 6250 is invested for 18 months in a scheme which offers compound interest (compounded every 9 months) of 16% p.a.
Rs. 5000 when invested at simple interest of r% p.a. amounts to Rs. 6000 in 24 months. If the same sum had been invested for 1 year at compound interest of...
On what sum will the difference between the simple interest and the compound interest for 3 years at 4 percent per annum amount to Rs. 15.20?
A sum of Rs. 20000 was invested in a scheme. The rate of simple interest offered for three years was 10%, 6% and 4% per annum respectively. After three yea...
A man invests a sum of ₹3600 at a simple interest rate of r% per annum for x years. His friend invests ₹4000 at the same rate of interest r% per annum for ...

Relevant for Exams:

Hey! Ask a query

Ravi lends Rs. 16000 to two of his friends. He gives Rs.8000 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

Detailed Solution

More Simple and compound interest Questions

Relevant for Exams:

Hey! Ask a query

Please Register/Login