Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

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 ?

Options:

Rs. 1200

Rs. 800

Rs. 1000

 Rs. 1400

Correct Answer:

Rs. 1000

Explanation:

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