Arun lends Rs.20,000 to two of his friends.He gives Rs.12,000 to the first at 8% p.a. simple interest. Arun wants to make a profit of 10% on the Whole. The simple interest rate at which he should lend the remaining sum of money to the second friend is :

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Asked: January 1, 20222022-01-01T20:59:33+05:30 2022-01-01T20:59:33+05:30Category: Number Puzzles

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Mighty Ashish · Answer 1 · 2022-01-01T21:00:12+05:30

Explanation:

Total profit=20000×10×1\100=Rs. 2000

According to the question,

Case (1):

Interest =12000×8×1\100=Rs. 960

Remaining interest (profit) = (2000−960)= Rs.1040

Remaining principal = (20000−12000)=Rs. 8000

Required Rate \% =1040\8000×100=13 \%