InterviewSolution
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Sumit and Sanket invested in the ratio of 5 : 6 and the ratio of the interest rates offered to them were in the ratio of 6 : 11. After two years, the simple interest earned by Sanket was 3600 more than Sumit. Find the interest earned by Sumit.1. Rs. 60002. Rs. 36003. Rs. 30004. Rs. 20005. Cannot be determined |
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Answer» Correct Answer - Option 3 : Rs. 3000 Given: ⇒ The investment ratio of Sumit and Sanket = 5 : 6 ----(1) ⇒ The ratio of rate offered = 6 : 11 ----(2) ⇒ The interest earned by Sumit = Interest earned by Sanket – Rs. 3600 ----(3) Formula used: ⇒ Simple interest = (Principle × Rate × Time)/100 ----(4) Calculation: As the interest was simple interest, taking the ratio of their interest we get, Sumit : Sanket ⇒ Interest (5×6×2)/100 : (6×11×2)/100 ⇒ Interest 5y : 11y So the difference between their interests is 6y and this equals the given interest of Rs. 3600 ⇒ 6y = Rs. 3600 ⇒ 1y = Rs. 600 ⇒ So, the interest earned by Sumit = 5 × 600 = Rs. 3000 |
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