Quantitative Aptitude Ques 1740

Question: Arun lends Rs. 20000 to two of his friends. He gives Rs. 12000 to the first at 8% per annum simple interest. Arun wants to make a profit of 10% on the whole. The simple interest rate at which he should lend the remaining sum of money to the second friend, is

Options:

A) 8%

B) 16%

C) 12%

D) 13%

Show Answer

Answer:

Correct Answer: D

Solution:

  • Total money = 20000 SI on Rs. 12000 $ \frac{P\times R\times T}{100}=\frac{12000\times 8\times 1}{100}=Rs.,960 $ Desired gain on $ Rs\text{. 20000}=20000\times \frac{10}{100}=Rs\text{. 2000} $

$ \therefore $ SI on $ Rs\text{. 8000}=2000-960=Rs\text{. 1040} $

$ \therefore $ $ Rate=\frac{SI\times 100}{Principal\times Time}=\frac{1040\times 100}{8000\times 1} $ = 13% per annum

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