Out of Rs 60 000 that Rahul has he lends Rs 10 000 at 11 2 per annum simple interest and Rs 32 000 a...........

Quantitative Aptitude ( CCS) Simple Interest

Out of Rs. 60,000 that Rahul has, he lends Rs. 10,000 at 11/2 % per annum simple interest and Rs. 32,000 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. 4000. The rate of interest per annum, at which the remaining money is lent, is?

7.5%

8.5%

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Explanation:

Total Amount = 60000
Amount divided into three parts – x, y, z
x = 10000, T = 1 yr
SI(x) = (10000 * 11/2)/100 = 550
y = 32000 R = 6%
SI(y) = (32000 * 6)/100 = 1920
Total Interest = 4000, Interest on the remaining amount = 4000 – 550 – 1920 = 1530
z = 60000 – 32000 – 10000 = 18000
R = (1530 * 100) /18000 = 8.5%