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Difficulty:
55%
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Question Stats:
71% (02:57) correct
29%
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wrong
based on 132
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Suhit borrowed a sum of $6300 from Vikas at the rate of 14% for 3 yr. He then added some more money to the borrowed sum and lent it to Mohit at the rate of 16% of simple interest for the same time. If Suhit gained $618 in the whole transaction, then what sum did he lend to Mohit?
(A) $6000
(B) $6800
(C) $7200
(D) $7500
(E) $7800
(A) $6000
(B) $6800
(C) $7200
(D) $7500
(E) $7800
06 Feb 2021, 00:32
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$618 gain he made comes from 2% (16%-14%) of the principal for 3 years + 16% of the additional money lent to Mohit. Accordingly, 6300*3*2%+3*16%*x=618; x= 500; 500+6300=6800
Answer B
Answer B
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