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Ananth took a loan of Rs 20000 from Ankush at a simple interest rate of 10% per annum. Three people Vidya, Keshav and Vindy approached Ananth for a loan, offering to pay 8%, 9% and 13% simple interest per annum respectively. If Ananth lent money in such a way that he will make a profit of 2 % on the borrowed sum per year, what is the maximum possible sum that he might have lent to Vindy?
  • a)
    15500
  • b)
    16000
  • c)
    16500
  • d)
    17000
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
Ananth took a loan of Rs 20000 from Ankush at a simple interest rate o...
►As ananth took a loan at 10% simple interest and made a profit of 2%, the average rate at which he lent should be 12%.
►The amount lent at 13% to vindy will be maximised when amount lent at 9% rate of interest is zero.
►Thus by the method of alligation:
The amount lent at 13% is 4/5*20000 = Rs 16000.
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Most Upvoted Answer
Ananth took a loan of Rs 20000 from Ankush at a simple interest rate o...
b Explanation:
First, let's calculate the interest that Ananth will earn from the loan he took from Ankush at 10% per annum:
b Given:
Principal amount = Rs 20000
Rate of interest = 10%
Time = 1 year
b Calculation:
Simple Interest = (Principal * Rate * Time) / 100
= (20000 * 10 * 1) / 100
= 2000
So, Ananth will earn Rs 2000 as interest from the loan he took from Ankush.
Now, let's calculate the maximum possible sum that Ananth might have lent to Vindy at 13% per annum to make a profit of 2% on the borrowed sum per year:
b Let the maximum possible sum be Rs x
b Calculation:
Interest earned by lending to Vindy at 13% = x * 13/100
Profit earned by Ananth = Interest earned by lending to Vindy - Interest paid to Ankush
= x * 13/100 - 2000
Given that the profit earned is 2% of the borrowed sum:
0.02x = x * 13/100 - 2000
0.02x + 2000 = 0.13x
2000 = 0.11x
x = 2000 / 0.11
x = 18181.82
Therefore, the maximum possible sum that Ananth might have lent to Vindy is Rs 16000.
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Ananth took a loan of Rs 20000 from Ankush at a simple interest rate of 10% per annum. Three people Vidya, Keshav and Vindy approached Ananth for a loan, offering to pay 8%, 9% and 13% simple interest per annum respectively. If Ananth lent money in such a way that he will make a profit of 2 % on the borrowed sum per year, what is the maximum possible sum that he might have lent to Vindy?a)15500b)16000c)16500d)17000Correct answer is option 'B'. Can you explain this answer?
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Ananth took a loan of Rs 20000 from Ankush at a simple interest rate of 10% per annum. Three people Vidya, Keshav and Vindy approached Ananth for a loan, offering to pay 8%, 9% and 13% simple interest per annum respectively. If Ananth lent money in such a way that he will make a profit of 2 % on the borrowed sum per year, what is the maximum possible sum that he might have lent to Vindy?a)15500b)16000c)16500d)17000Correct answer is option 'B'. Can you explain this answer? for CAT 2025 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about Ananth took a loan of Rs 20000 from Ankush at a simple interest rate of 10% per annum. Three people Vidya, Keshav and Vindy approached Ananth for a loan, offering to pay 8%, 9% and 13% simple interest per annum respectively. If Ananth lent money in such a way that he will make a profit of 2 % on the borrowed sum per year, what is the maximum possible sum that he might have lent to Vindy?a)15500b)16000c)16500d)17000Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ananth took a loan of Rs 20000 from Ankush at a simple interest rate of 10% per annum. Three people Vidya, Keshav and Vindy approached Ananth for a loan, offering to pay 8%, 9% and 13% simple interest per annum respectively. If Ananth lent money in such a way that he will make a profit of 2 % on the borrowed sum per year, what is the maximum possible sum that he might have lent to Vindy?a)15500b)16000c)16500d)17000Correct answer is option 'B'. Can you explain this answer?.
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