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?
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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:
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