1/2 of a certain sum is lent at 20 percent rate of interest, 2/5 of the remaining sum is lent at 25 percent rate of interest. The remaining sum is lent at 10 percent rate of interest. If the simple interest received on the total sum for 2 years is Rs. 360, then what is the sum ?
Answer & explanation
Correct answer: option 3
Simple Interst for 2 years = Rs 360
Simple Interst for 1 years = Rs 180
ATQ
Simple Interest = P\(\frac{1}{2}\) × 20% + P\(\frac{1}{2}\)\(\frac{2}{5}\) × 25% + P[\(\frac{1}{2}\)\(\frac{3}{5}\)] × 10%
= P{10% + 5% + 3%}
= P {18%}
Here,
18% P = Rs.180
∴ Principal = Rs 1000