Question

P lends Rs 3000 to Q and certain sum to R at 5% P.a Simple Interest. If after 4 years P altogether receives Rs 1200 as interest from Q and R then what was the sum lent to R? a. 750 b. 1000 c. 500 d. 240 Ans:

Answer 1

Let the amount lent to R be x.

Simple interest = Principle × rate × time

For Q we have :

Simple interest = 3000 × 4 × 0.05 = 600

For R we have :

Simple interest = x × 4 × 0.05 = 0.2x

Now :

600 + 0.2x = 1200

0.2x = 1200 - 600

0.2x = 600

x = 600/0.2

x = 3000