Shamma lends Rs.40,000 to two of her friends. She gives Rs.24,000 to the first at 8% p.a. simple interest. Shamma wants to make a profit of 10% on the whole. Find the simple interest rate at which she should lend the remaining sum of money to the second friend ?

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Solution

The ratio of money she lended is 24000 : 16000 = 3:2
Let the rate of interest be R%
8% R%
10%
3:2
R=13%

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Shamma lends Rs.40,000 to two of her friends. She gives Rs.24,000 to the first at 8% p.a. simple interest. Shamma wants to make a profit of 10% on the whole. Find the simple interest rate at which she should lend the remaining sum of money to the second friend ?

The ratio of money she lended is 24000 : 16000 = 3:2Let the rate of interest be R%8% R% 10%3:2R=13%

The ratio of money she lended is 24000 : 16000 = 3:2
Let the rate of interest be R%
8% R%
10%
3:2
R=13%