Sumit lent some money to Mohit at 5 % p.a. si | vedclass

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(B) Let the sum of money lent by Sumit to Mohit be $₹ x$.Simple interest paid by Mohit to Sumit after $1$ year $= \frac{x 	imes 5 	imes 1}{100} = ₹

Vedclass · Accepted Answer

$10000$

Vedclass · Answer

(B) Let the sum of money lent by Sumit to Mohit be $₹ x$.Simple interest paid by Mohit to Sumit after $1$ year $= \frac{x 	imes 5 	imes 1}{100} = ₹ \frac{5x}{100}$.Simple interest received by Mohit from Birju after $1$ year $= \frac{x 	imes 8.5 	imes 1}{100} = \frac{x 	imes 17/2}{100} = ₹ \frac{17x}{200}$.According to the problem,the profit earned by Mohit is the difference between the interest received and the interest paid:$\frac{17x}{200} - \frac{5x}{100} = 350$$\frac{17x - 10x}{200} = 350$$\frac{7x}{200} = 350$$7x = 350 	imes 200$$7x = 70000$$x = 10000$Thus,the sum of money lent by Sumit to Mohit is ₹ $10000$.

Sumit lent some money to Mohit at $5 \%$ $p.a.$ simple interest. Mohit lent the entire amount to Birju on the same day at $8 \frac{1}{2} \%$ $p.a.$ In this transaction,after a year Mohit earned a profit of ₹ $350.$ Find out the sum of money (in ₹) lent by Sumit to Mohit.

Similar Questions

$A$ sum was put at simple interest at a certain rate for $4$ $years$. Had it been put at $2 \%$ higher rate,it would have fetched ₹ $56$ more. Find the sum (In ₹).

$A$ man invests a certain sum of money at $6 \%$ $p.a.$ simple interest and another sum at $7 \%$ $p.a.$ simple interest. His income from interest after $2$ $years$ was $Rs. 354$. One-fourth of the first sum is equal to one-fifth of the second sum. Find the total sum (in $Rs.$) he invested.

Two equal sums were lent at simple interest for $4$ years and for $3$ years respectively. The rate of interest in the latter case was $3 \%$ higher than that of the former case,but the amount in each was $Rs. 1088$. Find the rate of interest (in $\%$) of the former case?

How many years will it take for an amount of $Rs. 600$ to yield $Rs. 120$ as interest at $10 \%$ per annum of $S.I.$?

$A$ money lender lends ₹ $400$ for $3$ $years$ to a person and ₹ $500$ for $4$ $years$ to another person at the same rate of simple interest. If altogether he receives ₹ $160$ as interest,what is the rate of interest per annum (in $\%$)?

Vedclass Test Series

Exam Paper Generator

Online Exam Module