Sumit lent some money to Mohit at 5 % p.a. si | vedclass

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Question

(B) Let the sum of money lent by Sumit to Mohit be $₹ x$.Simple interest paid by Mohit to Sumit after $1$ year $= \frac{x 	imes 5 	imes 1}{100} = ₹

Vedclass · Accepted Answer

$10000$

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(B) Let the sum of money lent by Sumit to Mohit be $₹ x$.Simple interest paid by Mohit to Sumit after $1$ year $= \frac{x 	imes 5 	imes 1}{100} = ₹ \frac{5x}{100}$.Simple interest received by Mohit from Birju after $1$ year $= \frac{x 	imes 8.5 	imes 1}{100} = \frac{x 	imes 17/2}{100} = ₹ \frac{17x}{200}$.According to the problem,the profit earned by Mohit is the difference between the interest received and the interest paid:$\frac{17x}{200} - \frac{5x}{100} = 350$$\frac{17x - 10x}{200} = 350$$\frac{7x}{200} = 350$$7x = 350 	imes 200$$7x = 70000$$x = 10000$Thus,the sum of money lent by Sumit to Mohit is ₹ $10000$.

Sumit lent some money to Mohit at $5 \%$ $p.a.$ simple interest. Mohit lent the entire amount to Birju on the same day at $8 \frac{1}{2} \%$ $p.a.$ In this transaction,after a year Mohit earned a profit of ₹ $350.$ Find out the sum of money (in ₹) lent by Sumit to Mohit.

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