šŸ“¢ Too many exams? Donā€™t know which one suits you best? Book Your Free Expert šŸ‘‰ call Now!
  • google app store apple app store
    • āœ–

      Question

      Ravi lends Rs. 5,000 to two of his friends. He gives

      Rs.2500 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.Ā  According to the question,Ā  15% Ɨ 2500 + x% of 2500 = 20% of 5000 ā‡’ Ā 15 Ɨ 25 + 25x = 20 Ɨ 500 ā‡’ 25x = 1000 ā€“ 375 ā‡’ Ā 25x = 625Ā  ā‡’ Ā x = 25Ā  Hence, the required rate of interest is 25% p.a.

      Practice Next
      More Simple and compound interest Questions
      ask-question