Question

Suhit borrowed a sum of Rs. 6,300 from Vikas at the rate of 14% for 3
years. He then added some more money to the borrowed sum and lent
it to Mohit at the rate of 16% of simple interest for the same time. If
Suhit gained Rs. 618 in the whole transaction, then what sum did he
lend to Mohit?​

Answer 1

Solution :-

Case 1) :-

• Sum borrowed by suhit = P = Rs.6300 .
• Rate = R = 14% per annum (SI) .
• Time = T = 3 years.

we know that,

• SI = (P * R * T)/100
• A = P + SI .

Putting all values we get,

→ SI = (6300 * 14 * 3)/100

→ SI = 63 * 14 * 3

→ SI = Rs.2646 .

So,

→ A = P + SI

→ A = 6300 + 2646

→ A = Rs.8946 .

Therefore , Suhit has to pay Rs.8946 back to Vikas.

Case 2) :- Let us assume that, suhit added Rs.x in the sum and give it to Mohit.

Than,

• P = Rs.(6300 + x)
• R = 16% per annum.(SI)
• Time = 3 years.

So,

→ SI = P * R * T / 100

→ SI = (6300 + x) * 16 * 3/100

→ SI = Rs. 48(6300 + x)/100

Than,

→ Amount = P + SI

→ Amount = (6300 + x) + {48(6300 + x)/100)

→ A = (6300 + x)[ 1 + 48/100)

→ A = Rs.(6300 + x)(148/100) = Amount Paid back by vikas to Suhit.

Now, we have given that, Suhit gained Rs. 618 in the whole transaction.

Therefore,

→ [(6300 + x)(148/100)] - 8946 = 618

→ (6300 + x)(148/100) = 618 + 8946

→ (6300 + x)(148/100) = 9564

→ 148(6300 + x) = 9564 * 100

→ 932400 + 148x = 956400

→ 148x = 956400 - 932400

→ 148x = 24000

→ x = Rs.162.16

Hence,

→ Sum lent by Suhit to mohit = 6300 + 162.16 = Rs.6462.16 (Ans.)

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