Question : Two equal sums are lent at 10% and 8% simple interest p.a. respectively, at the same time. The first sum was received 2 years earlier than the second one and the amount received in each case was INR 36,900. Each sum was ______.
Option 1: INR 20,500
Option 2: INR 20,200
Option 3: INR 18,100
Option 4: INR 21,500
Correct Answer: INR 20,500
Solution : Given : $R_1$ = 10% $R_2$ = 8% $A$ = INR 36900 Let the year be $t$ years and the principal be $P$ According to the question, $\Rightarrow (t + 2)\times 8 = t\times 10$ $\Rightarrow 8t + 16 = 10t$ $\Rightarrow 2t = 16$ $\Rightarrow t = \frac{16}{2} = 8$ Again $A = P(1 + \frac{rt}{100})$ $\Rightarrow 36900 = P(1 + \frac{8\times 10}{100})$ $\Rightarrow 36900 = P + 0.8P$ $\Rightarrow 1.8P = 36900$ $\Rightarrow P = 20,500$ Hence, the correct answer is INR 20,500.
Result | Eligibility | Application | Selection Process | Cutoff | Admit Card | Preparation Tips
Question : Two equal sums are lent at 8% and 4% simple interest p.a, respectively at the same time. The first sum is received 2 years earlier than the other and the amount received in each case is INR 14,500. Each sum is:
Question : Two equal sums were lent out at 7% and 5% simple interest respectively. The interest earned on the two loans adds up to Rs. 960 for 4 years. The total sum lent out in:
Question : A sum of INR 36,000 is divided into two parts, A and B, such that the simple interest at the rate of 15% p.a. on A and B after two years and four years, respectively, is equal. The total interest (in INR) received from A is:
Question : The compound interest amounts on a certain sum at a certain rate percentage p.a. for the second year and third year are INR 3,300 and INR 3,630, respectively. What is the amount of the same sum at the same rate in $2 \frac{1}{2}$ years, interest compounded yearly?
Question : A person invested a sum of INR 10,500 at $x$% per annum at simple interest and a sum of INR 13,500 at $(x + 2)$% p.a. at simple interest. If the total interest earned on both investments for 3 years is INR 7,650, then the rate of interest on the first investment is:
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile