Question

Sheila had 100000 out of which she lent 60000 to kanta for 3 year at the rate of interest 5% per annum.she wants to lend the balance money to meera for an equal period of time such that she is able to receive a total interest of 16000 rupees from kanta and meera combined .at what rate of interest should she lend the money to meera?

Answer 1

Answer:

INTEREST = TIME*RATE*AMOUNT/100

interest from kanta = 5*3*60000/100

                                = 9000

given; interest of kanta + interest of meera = 16000

           9000 + interest from meera =16000

            interest from meera = 7000

            (amount given to meera) X rate X time / 100=7000

            (100000-60000)XrateX3/100=7000

             40000X rate X 3 = 7000X100

             after solving,

             rate = 70/4

rate of interest should she lend the money to meera = 70/4%

             

Step-by-step explanation: