Out of 50,000, that a man has, he lends 8000 at 51% per

Home » Aptitude » Simple interest » Question

Out of 50,000, that a man has, he lends 8000 at 5 1 % per annum simple interest
2
and Rs. 24,000 at 6 % per annum simple interest. He lends the remaining money at a certain rate of interest so that he gets total annual interest of 3680. The rate of interest per annum, at which the remaining money is lent, is

1. 5%
2. 7%
3. 10%
4. 12%

Correct Option: C

On the basis of given details in question , we have
Remaining amount = ₹ (50000 – (8000 + 24000)) = ₹ 18000
Let ₹ 18000 be lent at the rate of r% p.a. According to the question,

8000 × 11 × 1	+	24000 × 6 × 1	+	18000 × r × 1	= 3680
2 × 100		100		100

⇒ 440 + 1440 + 180r = 3680
⇒ 1880 + 180r = 3680
⇒ 180r = 3680 – 1880 = 1800
⇒ r = 1800 ÷ 180 = 10%

Out of 50,000, that a man has, he lends 8000 at 5	1	% per annum simple interest
	2