Ramesh has ₹18,000. He deposited ₹7,000 in a bank at the rate of 5% per annum and ₹6,000 in other bank at the rate of 6% per annum simple interest. If he received ₹1,160 as simple interest at the end of one year, then the rate of interest per annum on rest of the capital is equal to:
Question:
Ramesh has ₹18,000. He deposited ₹7,000 in a bank at the rate of 5% per annum and ₹6,000 in other bank at the rate of 6% per annum simple interest. If he received ₹1,160 as simple interest at the end of one year, then the rate of interest per annum on rest of the capital is equal to:
Ramesh has ₹18,000. He deposited ₹7,000 in a bank at the rate of 5% per annum and ₹6,000 in other bank at the rate of 6% per annum simple interest. If he received ₹1,160 as simple interest at the end of one year, then the rate of interest per annum on rest of the capital is equal to:
Options
Answer: (3) 9%
Explanation:
Let total money = 18,000 He invested: 7,000 at 5% → Interest = 7000 × 0.05 = 350 6,000 at 6% → Interest = 6000 × 0.06 = 360 Total interest from these two = 350 + 360 = 710 Total interest received = 1,160 So interest from remaining money = 1160 − 710 = 450 Remaining principal = 18,000 − 7,000 − 6,000 = 5,000 Let rate = R% Simple interest formula: SI = (P × R × T) / 100 450 = (5000 × R × 1) / 100 450 = 50R R = 450 / 50 = 9 ✅ Correct Answer: (3) 9%
Explanation:
Let total money = 18,000 He invested: 7,000 at 5% → Interest = 7000 × 0.05 = 350 6,000 at 6% → Interest = 6000 × 0.06 = 360 Total interest from these two = 350 + 360 = 710 Total interest received = 1,160 So interest from remaining money = 1160 − 710 = 450 Remaining principal = 18,000 − 7,000 − 6,000 = 5,000 Let rate = R% Simple interest formula: SI = (P × R × T) / 100 450 = (5000 × R × 1) / 100 450 = 50R R = 450 / 50 = 9 ✅ Correct Answer: (3) 9%
👉 Want AI explanation? Open in MCQ App
Recommended articles
- Medical Benefits Daily Mcq Practice Upsc — As a medical professional, I've witnessed firsthand how consistent learning patterns affect cognitive function. Daily MCQ practice isn't just about…
- Top 10 Daily Current Affairs Resources For Upsc Aspirants — Discover the best daily current affairs resources for UPSC 2026. Complete guide with The Hindu, PIB, Sansad TV, and 7 more proven sources. Expert…
- How To Cover Current Affairs For Upsc Prelims — Master UPSC Current Affairs with daily newspaper reading, Vision IAS monthly compilations, PT 365, and MCQ practice. Complete strategy guide for Prelims…