Kumar lent an amount to Arif at a simple interest rate of p.a. for years, and Arif lent this amount to Naresh at a simple interest rate of p.a. for years. If the interest Arif received was ₹ after years, then what was the amount that Kumar had lent to Arif?
- A₹6,200
- B₹5,600
- C₹5,400
- D₹5,200
Solution & Step-by-step Explanation
Let the principal amount lent by Kumar to Arif be .The interest received by Arif from Naresh is calculated at a rate of p.a. for years:
Given that the interest Arif received was ₹:
Note: If the question means the net profit/interest earned by Arif (interest received minus interest paid), then:
Given net interest = :
Thus, interpreting "the interest Arif received" as his net gain from the transaction, the amount is ₹.
Given that the interest Arif received was ₹:
Note: If the question means the net profit/interest earned by Arif (interest received minus interest paid), then:
Given net interest = :
Thus, interpreting "the interest Arif received" as his net gain from the transaction, the amount is ₹.