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A man lent Rs. 25000 for one year under compound interest, to five persons. He lent Rs.5500 at 5% p.a. to the first person, Rs 4000 at 13/2 % p.a. to the second person, Rs.3500 at 11/2% p.a to the third person and Rs.7000 at 17/2% p.a. to the fourth person. At what rate of interest should he lend the remaining amount so that he gets an interest at 8% p.a. on the entire amount?

  • Option 1)

    13.85%

  • Option 2)

    12.75%

  • Option 3)

    13.55%

  • Option 4)

    14.05%

  • Option 5)

    12.25%

Answers (1)

best_answer

P\left [ 1+\frac{R}{100} \right ]^{T}=P1\left [ 1+\frac{R1}{100} \right ]^{T}+P2\left [ 1+\frac{R2}{100} \right ]^{T}+P3\left [ 1+\frac{R3}{100} \right ]^{T}

\frac{\left \{ {25000 \times 8 \times 1} \right \}}{100} =\frac{\left \{ {5500 \times 1 \times 5} \right \}}{20} +\frac{\left \{ {4000 \times 13 \times 1} \right \}}{200} +\frac{\left \{ {3500 \times 1 \times 11} \right \}}{200}

By solving this we get

R = 13.55 %

Posted by

rishi.raj

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