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Ramu lent ₹3,000 to Raju and a certain sum to Ravi at the same time and at the same rate of simple interest of 8% per annum. After 5 years, he received a sum of ₹1,600 from Raju and Ravi together as interest. Find the sum lent to Ravi.

This question was previously asked in
SSC CGL 2024 (Tier-I) Previous Year Paper (17-Sep-2024) (Shift 3)
The correct answer is

₹1,000

The correct answer is "₹1,000." Using the formula for simple interest, we can calculate the interest received from both Raju and Ravi and find the sum lent to Ravi by subtracting Raju's interest from the total amount.

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Similar Questions

  1. Aman needed ₹30,000 for a start-up and split the sum between two private lenders under simple-interest terms:

    Lender A charges 9% p.a. (simple interest)

    Lender B charges 6% p.a. (simple interest)

    Aman kept both loans exactly 4 years and then made a single lump-sum payment that settled only the accumulated interest, which came to ₹9,600. After preparing his books of account, Aman discovered that if he had interchanged the principal amounts taken from the two lenders, his four-year interest outgo would have been ₹1,200 less than what he actually paid. How much of the original ₹30,000 did Aman borrow at 9% p.a. from Lender A?

  2. Sarah invested amounts in three different schemes M, N, and O at simple interest rates of 10% p.a., 12% p.a., and 15% p.a. respectively. If the total interest accrued in one year was ₹2282 and the amount invested in Scheme O was 180% of the amount invested in Scheme M and 250% of the amount invested in Scheme N, what was the amount invested in Scheme N?

  3. An individual invested certain amounts in three different schemes P, Q, and R at simple-interest rates of 7% p.a., 9% p.a., and 11% p.a. respectively. If the total interest accrued in one year was ₹2,520 and the amount invested in Scheme R was 250% of the amount invested in Scheme P and 300% of the amount invested in Scheme Q, what was the amount invested in Scheme P?

  4. The sum of money that will yield ₹60 as simple interest at 6% per annum in 5 years is?

  5. The simple interest on a certain sum of money at the rate of 5% per annum for 8 years is Rs. 840. Rate of interest for which the same amount of interest can be received on the same sum after 5 years is

  6. Alipta got some amount of money from her father. In how many years will the ratio of the money and the interest obtained from it be 10:3 at 6% simple interest per annum?

  7. For what sum will the simple interest at R% for 2 years be R?

  8. A sum of ₹ 3000 yields an interest of ₹ 1080 at 12% per annum simple interest in how many years?

  9. If simple interest rate per annum a certain sum amounts to Rs. 5,182 in 2 years and Rs. 5,832 in 3 years. The principal in rupees is

  10. The simple interest on a sum for 5 years is two-fifth of the sum. The rate of interest per annum is


Important Questions from Simple Interest

  1. How long will it take for ₹1,500 to become ₹2,040 at a rate of 8% per annum simple interest?
  2. Find the simple interest (in ₹) if a sum of ₹400 is borrowed for 5.5 years at 12% per annum rate of interest.
  3. Find the simple interest (in ₹) if a sum of ₹400 is borrowed for 4.5 years at 8% per annum rate of interest.
  4. Find the simple interest (in ₹) if a sum of ₹400 is borrowed for 5.5 years at 4% per annum rate of interest.

  5. Find the simple interest (in ₹) on ₹1,200 at an interest rate of 3% per month for 11 months.
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