Multiple choice

There were two moneylenders. The first moneylender gave the money for 6 years at a certain rate of simple interest. The second moneylender gave the same amount of sum to another person at 3% higher rate than the first moneylender for the same period of time and he fetched 9000 rupees more. What was the sum amount?

  1. Rs. 40,000

  2. Rs. 50,000

  3. Rs. 55,000

  4. Rs. 60,000

  5. Rs. 65,000
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let the sum be P and the rate be R. The interest difference is (P * (R+3) * 6 / 100) - (P * R * 6 / 100) = 9000. This simplifies to (P * 3 * 6) / 100 = 9000, so 18P = 900000, and P = 50000.

AI explanation

The difference in interest generated by the two moneylenders comes solely from the 3% higher interest rate over the 6-year period. Using the simple interest formula, this difference is calculated as Rs. 9000 = (Principal * 3 * 6) / 100. Solving this equation gives Principal = (9000 * 100) / 18, which equals Rs. 50,000.

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