ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!


    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.┬а According to the question,┬а 15% ├Ч 2500 + x% of 2500 = 20% of 5000 тЗТ ┬а15 ├Ч 25 + 25x = 20 ├Ч 500 тЗТ 25x = 1000 тАУ 375 тЗТ ┬а25x = 625┬а тЗТ ┬аx = 25┬а Hence, the required rate of interest is 25% p.a.

    Practice Next
    More Simple and compound interest Questions
    ask-question