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DIRECTIONS for the question: Solve the following question.
Arun lends Rs. 20,000 to two of his friends for one year. He gives Rs. 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 (in percentage, in numerical value)
Correct answer is '13'. Can you explain this answer?
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DIRECTIONS for the question:Solve the following question.Arun lends Rs...
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Solution:
Given, Arun wants to make a profit of 10% on the whole.
Let the rate of interest for the second friend be x%.
Let the sum of money given to the second friend be S.
Total sum of money lent = Rs. 20,000
Amount lent to the first friend = Rs. 12,000
Amount lent to the second friend = S
Amount lent for one year
Profit that Arun wants to make = 10%
Therefore, the total amount that Arun wants back after one year = 20,000 + (20,000 × 10/100) = Rs. 22,000
Now, we can use the formula for simple interest to find the value of S.
Simple Interest = (P × R × T)/100
Where P is the principal, R is the rate of interest and T is the time period.
For the first friend,
Simple Interest = (12,000 × 8 × 1)/100 = Rs. 960
Amount to be paid back by the first friend = 12,000 + 960 = Rs. 12,960
Now, we can find the value of S using the fact that the total amount that Arun wants back after one year is Rs. 22,000.
Amount to be paid back by the second friend = S + (S × x × 1)/100 = S(1 + x/100)
Total amount to be paid back after one year = 12,960 + S(1 + x/100)
We know that this amount should be equal to Rs. 22,000.
So, we get the equation:
12,960 + S(1 + x/100) = 22,000
Solving for S, we get:
S = 9,040/(1 + x/100)
Now, substituting the value of S in the equation, we get:
12,960 + (9,040/(1 + x/100))(1 + x/100) = 22,000
Simplifying, we get:
x = 13
Therefore, the rate of interest at which Arun should lend the remaining sum of money to the second friend is 13%.
Given, Arun wants to make a profit of 10% on the whole.
Let the rate of interest for the second friend be x%.
Let the sum of money given to the second friend be S.
Total sum of money lent = Rs. 20,000
Amount lent to the first friend = Rs. 12,000
Amount lent to the second friend = S
Amount lent for one year
Profit that Arun wants to make = 10%
Therefore, the total amount that Arun wants back after one year = 20,000 + (20,000 × 10/100) = Rs. 22,000
Now, we can use the formula for simple interest to find the value of S.
Simple Interest = (P × R × T)/100
Where P is the principal, R is the rate of interest and T is the time period.
For the first friend,
Simple Interest = (12,000 × 8 × 1)/100 = Rs. 960
Amount to be paid back by the first friend = 12,000 + 960 = Rs. 12,960
Now, we can find the value of S using the fact that the total amount that Arun wants back after one year is Rs. 22,000.
Amount to be paid back by the second friend = S + (S × x × 1)/100 = S(1 + x/100)
Total amount to be paid back after one year = 12,960 + S(1 + x/100)
We know that this amount should be equal to Rs. 22,000.
So, we get the equation:
12,960 + S(1 + x/100) = 22,000
Solving for S, we get:
S = 9,040/(1 + x/100)
Now, substituting the value of S in the equation, we get:
12,960 + (9,040/(1 + x/100))(1 + x/100) = 22,000
Simplifying, we get:
x = 13
Therefore, the rate of interest at which Arun should lend the remaining sum of money to the second friend is 13%.
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DIRECTIONS for the question:Solve the following question.Arun lends Rs. 20,000 to two of his friends for one year. He gives Rs. 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 (in percentage, in numerical value)Correct answer is '13'. Can you explain this answer?
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DIRECTIONS for the question:Solve the following question.Arun lends Rs. 20,000 to two of his friends for one year. He gives Rs. 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 (in percentage, in numerical value)Correct answer is '13'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about DIRECTIONS for the question:Solve the following question.Arun lends Rs. 20,000 to two of his friends for one year. He gives Rs. 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 (in percentage, in numerical value)Correct answer is '13'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for DIRECTIONS for the question:Solve the following question.Arun lends Rs. 20,000 to two of his friends for one year. He gives Rs. 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 (in percentage, in numerical value)Correct answer is '13'. Can you explain this answer?.
DIRECTIONS for the question:Solve the following question.Arun lends Rs. 20,000 to two of his friends for one year. He gives Rs. 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 (in percentage, in numerical value)Correct answer is '13'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about DIRECTIONS for the question:Solve the following question.Arun lends Rs. 20,000 to two of his friends for one year. He gives Rs. 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 (in percentage, in numerical value)Correct answer is '13'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for DIRECTIONS for the question:Solve the following question.Arun lends Rs. 20,000 to two of his friends for one year. He gives Rs. 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 (in percentage, in numerical value)Correct answer is '13'. Can you explain this answer?.
Solutions for DIRECTIONS for the question:Solve the following question.Arun lends Rs. 20,000 to two of his friends for one year. He gives Rs. 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 (in percentage, in numerical value)Correct answer is '13'. Can you explain this answer? in English & in Hindi are available as part of our courses for CAT.
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DIRECTIONS for the question:Solve the following question.Arun lends Rs. 20,000 to two of his friends for one year. He gives Rs. 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 (in percentage, in numerical value)Correct answer is '13'. Can you explain this answer?, a detailed solution for DIRECTIONS for the question:Solve the following question.Arun lends Rs. 20,000 to two of his friends for one year. He gives Rs. 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 (in percentage, in numerical value)Correct answer is '13'. Can you explain this answer? has been provided alongside types of DIRECTIONS for the question:Solve the following question.Arun lends Rs. 20,000 to two of his friends for one year. He gives Rs. 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 (in percentage, in numerical value)Correct answer is '13'. Can you explain this answer? theory, EduRev gives you an
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