Out of Rs 50 000 that a man has he lends Rs 8 000 at 11 2 per annum simple interest and Rs 24 000 at...........

Quantitative Aptitude ( CCS) Simple Interest

Out of Rs. 50,000 that a man has, he lends Rs. 8,000 at 11/2 % per annum simple interest and Rs. 24,000 at 6% per annum simple interest. He lends the remaining money at a certain rate of interest so that he gets total annual interest of Rs. 3,680. The rate of interest per annum, at which the remaining money is lent, is ?

10%

12%

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Explanation:

Total Amount = 50000
Amount divided into three parts – x, y, z
x = 8000, T = 1 yr
SI(x) = (8000 * 11/2)/100 = 440
y = 24000 R = 6%
SI(y) = (24000 * 6)/100 = 1440
Total Interest = 3680, Interest on the remaining amount = 3680 – 440 – 1440 = 1800
z = 50000 – 24000 – 8000 = 18000
R = (1800 * 100) /18000 = 10%