Question

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:

Answer 1

Answer:

Step-by-step 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%