Mathematics · Interest
Ram on his birthday received ₹8,500 as a gift from his relatives. To encourage Ram towards saving money, his grandfather asked him to lend his money to him at 20% simple interest per annum. Ram's father proposed to borrow money from Ram at 15% simple interest per annum. His elder brother is also interested in borrowing any amount of money from Ram at 10% simple interest per annum. However, his grandfather is interested in taking only ₹5,000, and his father is interested in taking the entire amount but not a part of it. If Ram lent all the gifted amount, then by his next birthday, the maximum possible total amount (principal + interest) he gets is:
- 110,000
- 29,775✓
- 39,850
- 49,950
Correct answer
9,775
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