Multiple Choice Questions on Shamma lends Rs 40 000 to two of her friends She gives Rs 24 000 to the first at 8 p a simple intere........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

Shamma lends Rs 40 000 to two of her friends She gives Rs 24 000 to the first at 8 p a simple intere...........

Quantitative Aptitude ( CCS) Profit and loss
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    Shamma lends Rs.40,000 to two of her friends. She gives Rs.24,000 to the first at 8% p.a. simple interest. Shamma wants to make a profit of 10% on the whole. The simple interest rate at which she should lend the remaining sum of money to the second friend is:

    13%

    Correct Answer

    8.5%

    Incorrect Answer

    9.5%

    Incorrect Answer

    11.25%

    Incorrect Answer
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    Explanation:

    The ratio of money she lended is

    24000 : 16000 = 3 : 2

    Let the rate of interest be R%

    8%                   R%   

               10

    3          :           2

    R = 13%.

    Hence, option 1 is the correct answer.

    By: Amit Kumar
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