Browse by Stream
QnA
Home
QnA
Go To Your Study Dashboard

Get Answers to all your Questions

header-bg qa
  • Home
  • Management
  • 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

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

12.25%


Option: 2

12.75%


Option: 3

13.55%


Option: 4

14.05% 

 


Answers (1)

best_answer

P [1+R/100] T = P1 [1+R1/100] T + P2[1+R2/100] T + P3 [1+R3/100] T

{25000 x 8 x 1}/100 = {5500 x 1 x 5}/ 20 +{ 4000 x 13 x 1 }/200 + {3500 x 1 x 11}/200 

By solving this we get 

R = 13.55 %

 

Posted by

Gunjita

View full answer

Similar Questions

Trending Articles/News

anam-khan

CAT Result 2024 (Out) Live: 14 candidates score 100 percentile; scorecard link, cut-off, IIM selection process
anam-khan

CAT 2024 result declared, link active at iimcat.ac.in; how to download score card?
anam-khan

CAT 2024 Results Out: 14 grab 100 percentile; maximum from Maharashtra

Latest Question