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Saurav borrowed a sum of Rs. 9000 from Himanshu at the rate of 16% per annum for 3 years. Saurav added some more money in it and lent it to Ekram at 18% per annum for the same period. In this process, Saurav earned a total profit of Rs. 720. Find how much money he added?

Saurav borrowed a sum of Rs. 9000 from Himanshu at the rate of 16% per annum for 3 years. Saurav added some more money in it and lent it to Ekram at 18% per annum for the same period. In this process, Saurav earned a total profit of Rs. 720. Find how much money he added? Correct Answer Rs. 333.33

Given:

Condition for Saurav,

Principal = Rs. 9000

Rate of interest = 16%

Time = 3 years                   

Condition for Ekram,

Principal = Rs. 9000 + x

Rate = 18%

Time = 3 years

Formula:

Simple interest = (P × R × T)/100

Saurav earned profit from interest = Rs. 720

Simple interest (Ekram) - Simple interest (Saurav) = Rs. 720

- = Rs. 720

⇒ - = 720

⇒ 6/100 × = Rs. 720

⇒ 9000 + 9x = 12000 

⇒ 9x = 3000

⇒ x = Rs. 333.33

∴ Saurav added Rs. 333.33 

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