Vijay lends Rs. 20,000 to two of his friends. He gives Rs. 15000 to the first at 8% per annum simple interest. Vijay wants to make a profit of 10% on whole. Find the rate at which he can give the remaining money to a second friend.

16%

10% of 20,000

1st friend 

SI = \(\frac{15000 × 8 × 1}{100}\) = 1200

SI he wants to gain = 2000

from 2nd friend = 2000- 1200 = 800

2nd friend → money given to 2nd friend = 5000

800 = \(\frac{5000 × R × 1}{100}\) 

R = 16%