R lends some money to S on which S pays Rs 17,000 more to R. S lends the same money to T, on which T pays 8.5% more to S. What should be the minimum amount (in Rs) that S must borrow so that he does not incur any loss in the process?
This questions was previously asked in
ssc cgl 2023 pre
2,25,000
Incorrect Answer1,80,000
Incorrect Answer1,70,000
Incorrect AnswerExplanation:
- R lends money to S. The total amount S needs to repay R is the principal amount plus Rs 17,000.
- S then lends the same amount to T.
- T pays S 8.5% more than the initial amount S lent to T.
- To ensure S does not incur any loss, the gain from T (8.5%) must at least equal Rs 17,000.
- Calculating: Let the principal amount be X. Then, 8.5% of X should be equal to or greater than Rs 17,000.
- We need to find X such that \(0.085 \times X \geq 17,000\).
- Solving for X gives \(X \geq \frac{17,000}{0.085} = 2,00,000\).
The correct option is 1, 2,00,000.
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By: Parvesh Mehta