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Question

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%


1245001_1532804_ans_1618d747db9d4baa924a526307a3808b.PNG

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