Question

Manish borrowed a sum of Rs.1,150 from Anil at the rate of 6%.p.a. for 3 years. He then added some more money to the borrowed sum and lent it to Sunil for the same amount of time at 9% p. a. at simple interest. If Manish gains Rs.274.95 by way of interest on the borrowed sum as well as his own amount from the whole transaction, then what was the sum lent by him to Sunil?

• A. Rs.1,290
• B. Rs.1,785
• C. Rs.1,285
• D. Rs.1,200
• E. None of these

Answer 1

The correct option is B

Rs.1,785

Let Manish added Rs.x to the borrowed money.

$\frac{(1150+x)\times 3\times 6}{100}-\frac{1150\times 3\times 6}{100}=274.95$
$31050+27x-20700=27495$
$\therefore 27x=17145$
$\therefore x=\frac{17145}{27}=635$

So, Manish lent to Sunil $=1150+635=1785$