Question

Ram lend money at 5% per annum simple interest for two years to Rajesh. Rajesh lends a total amount at 7% per annum for 2 years for simple interest. if profit of Rajesh is 560 then what is the profit of Ram?
1. 1200
2. 1400
3. 1600
4. 1800

Answer 1

Correct Answer - Option 2 : 1400

Given:

The profit of the Rajesh is 560

Concept:

Simple interest = (Principle × Time × Rate)/100

Calculation:

Let be assume Ram invest the X rupees

⇒ Total amount of Ram = X + (X × 5 × 2)/100 = 11X/10

⇒ Profit of Rajesh = 560

⇒ 560 = (X × 7 × 2)/100 - (X × 5 × 2)/100

⇒ X = 14000

⇒ The profit of Ram = 14000/10 = 1400

∴ The required result will be 1400.