Question : A sum of Rs. 6000 is divided into two parts. The annual simple interest on the first part at the annual rate of 10% is equal to the annual simple interest on the second part at the annual rate of 15%. How much is the interest on each part for one year?
Option 1: Rs. 300
Option 2: Rs. 330
Option 3: Rs. 360
Option 4: Rs. 420
New: SSC MTS 2024 Application Form OUT; Direct Link
Don't Miss: Month-wise Current Affairs | Upcoming Government Exams
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
Correct Answer: Rs. 360
Solution : Let the sum be divided into two parts P 1 and P 2 . Also, let the interest of the two parts be I 1 and I 2 . For the first part (P 1 ): ⇒ I 1 = P 1 × 0.10 × 1 (1 year) For the second part (P 2 ): ⇒ I 2 = P 2 × 0.15 × 1 (1 year) Now, P 1 × 0.10 × 1 = P 2 × 0.15 × 1 Also, P 1 + P 2 = 6000 ⇒ P 2 = 6000 − P 1 So, P 1 × 0.10 × 1 = (6000−P 1 ) × 0.15 × 1 ⇒ 0.10P 1 = 0.15(6000−P 1 ) ⇒ 0.10P 1 = 0.15(6000−P 1 ) ⇒ P 1 = $\frac{900}{0.25}$ ⇒ P 1 = Rs. 3600 ⇒ P 2 = 6000 − P 1 = 6000 − 3600 = Rs. 2400 ⇒ I 2 = P 2 × 0.15 × 1 ⇒ I 2 = Rs. 360 Hence, the correct answer is Rs. 360.
Application | Cutoff | Selection Process | Preparation Tips | Eligibility | Exam Pattern | Admit Card
Question : A sum of Rs. 3,500 is lent out at simple interest in two parts. One part at the annual rate of 7% and another part at the annual rate of 5%. If the total annual interest is Rs. 210, then what is the sum lent out at the rate of 7%?
Question : A sum of INR 900 is divided into two parts such that the interest on the first part at 4% simple interest per annum and that on the other part at 2% simple interest per annum are equal. What is the interest accumulated on each part in a year?
Question : On a certain sum, simple interest at the annual rate of 12% for 6 years is Rs. 28800. What will be the compound interest on the same sum at the annual rate of 20% (compounding annually) for 2 years?
Question : The simple interest received on a sum is $\frac{4}{9}$ of the sum. The number of years is equal to the annual rate of interest. What is the annual rate of interest?
Question : Simple interest on a sum for eight months at the rate of 8 percent per annum is Rs. 240. What is the value of the sum?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile