| Arun lends Rs. 20000 to two of his friends. He gives Rs. 12000 to the first at 8% per annum simple interest. Arun 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 [SSC (CGL) 2012] |
A) 8%
B) 16%
C) 12%
D) 13%
Correct Answer: D
Solution :
| Total money = 20000 |
| SI on Rs. 12000 |
| \[\frac{P\times R\times T}{100}=\frac{12000\times 8\times 1}{100}=Rs.\,960\] |
| Desired gain on |
| \[\text{Rs}\text{. 20000}=\text{20000}\times \frac{10}{100}=\text{Rs}\text{. 2000}\] |
| \[\therefore \]SI on \[\text{Rs}\text{. 8000}=2000-960=\text{Rs}\text{. 1040}\] |
| \[\therefore \] \[\text{Rate}=\frac{\text{SI}\times 100}{\text{Principal}\times \text{Time}}=\frac{1040\times 100}{8000\times 1}\] |
| = 13% per annum |
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