Raghu lends Rs 50 000 of two of his friends He gives Rs 30 000 to the first at 6 p a simple interest...........

Quantitative Aptitude ( CCS) Simple Interest

Raghu lends Rs 50,000 of two of his friends. He gives Rs 30,000 to the first at 6% p.a. simple interest. He 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

16%

11%

17%

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Explanation:

S.I. on Rs 30000
=(30000×6×1)/100 = Rs. 1800
Profit to made on Rs 50000
= 50000×10/100=Rs 5000
S.I.on Rs.20000 = 5000-1800 = Rs.3200
Rate=(S.I.* 100)/(P * T)=(3200×100)/20000
=16% per annum
Shortcut:
6……………………x
………..10…………….
3………………………2
4/(x-10)=2/3
x=16