Raju lends Rs 3000 to Bharath and a certain sum to Charan at the same time of 6% per annum simple interest.If after 5 years ,Raju altogether receives Rs 1650 as interest from Bharath and Charan, What is the sum lent to charan ?
Question
Raju lends Rs 3000 to Bharath and a certain sum to Charan at the same time of 6% per annum simple interest.If after 5 years ,Raju altogether receives Rs 1650 as interest from Bharath and Charan, What is the sum lent to charan ?
Solution
To solve this problem, we need to use the formula for simple interest which is I = PRT/100, where I is the interest, P is the principal amount (the initial amount of money), R is the rate of interest, and T is the time in years.
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First, let's calculate the interest received from Bharath. We know that Raju lent Bharath Rs 3000 at an interest rate of 6% per annum for 5 years. So, the interest from Bharath would be (300065)/100 = Rs 900.
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We know that the total interest received from both Bharath and Charan is Rs 1650. So, the interest received from Charan would be 1650 - 900 = Rs 750.
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Now, let's find out the sum lent to Charan. We know that the interest rate is 6% per annum and the time is 5 years. So, using the simple interest formula, the principal amount (P) lent to Charan would be (750100)/(65) = Rs 2500.
So, Raju lent Rs 2500 to Charan.
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