Multiple choice

Pintu borrow a sum of Rs.6300 from Chintu at the rate of 14% per annum for 3 years at simple interest. He added some more money in it and lent it to Rinku at 16% per annum for 3 years at the simple interest in this process he earn a total profit of Rs.618. then find how much amount does he added?

  1. Rs.700

  2. Rs.400

  3. Rs.600

  4. Rs.500

  5. None of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Interest paid to Chintu = 6300 × 14 × 3/100 = Rs. 2646. Interest received from Rinku = (6300 + x) × 16 × 3/100 = (6300 + x) × 0.48. Profit = 618 = (6300 + x) × 0.48 - 2646. Solving: (6300 + x) × 0.48 = 3264, so 6300 + x = 6800, giving x = Rs. 500. Option D is correct.

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