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Arun lends ₹ 20,000 to two of his friends. He gives ₹ 12,000 to the first at 8% p.a. 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
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- 8%
- 16%
- 12%
- 13%
- 8%
Correct Option: D
We know that ,
| ∴ SI = | ||
| 100 |
According to question ,
| S.I. on 12000 = | = ₹ 960 | |
| 100 |
Desired gain on ₹ 20000
= 20000 × (10 ÷ 100) = ₹ 2000
∴ S.I. on ₹ 8000 = 2000 – 960 = ₹ 1040
| ∴ Rate = | |
| Principal × Time |
| Rate = | |
| 800 |
Rate = 13% per annum
