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Atanu borrowed Rs. 4000 from Mangal at 12% Rate of interest per annum. Atanu lent those Rs. 4000 after adding some money in it at 16% rate of interest per annum. The profit gained by Atanu at the end of year is Rs. 320. Find the Sum added by Atanu while lending money.
1. Rs. 900
2. Rs. 950
3. Rs. 1000
4. Rs. 1050

1 Answer

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Correct Answer - Option 3 : Rs. 1000

Given:

Sum borrowed by Atanu = Rs. 4000

Rate % = 12% per annum

Sum lent by Atanu = (4000 + x)

Rate at which sum lent by atanu = 16% per annum

Profit earned in entire transaction = Rs. 320

Formula Used:

Simple Interest = (Principal × Rate × Time)/100

Calculation:

Simple interest need to be paid by Atanu = (4000 × 12 × 1)/100

⇒ Simple interest need to be paid by Atanu = Rs. 480

Simple Interest earned by Atanu after lending Rs. (4000 + x) = Rs. 480 + Rs. 320 = Rs. 800

 800 = [(4000 + x) × 16 × 1]/100

⇒ (4000 + x) = (800 × 100)/16

⇒ (4000 + x) = 5000

⇒ x = 5000 - 4000 = Rs. 1000

∴ The Sum added by Atanu while lending is Rs. 1000.

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