Vishwas borrowed a total amount of Rs. 30,000 part of it on simple interest, rate of 12 p.c.p.a. and remaining on simple interest rate of 10 p.c.p.a. If at the end of 2 years he paid in all Rs. 36,480 to settle the loan amount, what was the amount borrowed at 12 p.c.p.a.?

Report

Report an issue

Name

Email

Message

Submit

Cancel

BANK PO Exam (Indian Overseas Bank) 2008 click here to view all questions

Vishwas borrowed a total amount of Rs. 30,000 part of it on simple interest, rate of 12 p.c.p.a. and remaining on simple interest rate of 10 p.c.p.a. If at the end of 2 years he paid in all Rs. 36,480 to settle the loan amount, what was the amount borrowed at 12 p.c.p.a.?

A Rs. 16000

B Rs. 18000

CRs. 17500

DRs. 12000

upendra ? undefined

Correct answer is: Rs. 12000

Explanation:

Let the sum borrowed at 12% p.a. be Rs. x
and that borrowed at 10% p.a. be Rs. (30000 - x)
S.I. at the end of 2 years
= Rs. (36480 - 30000)
= Rs. 6480

\(\eqalign{ & \therefore \left( {\frac{{x \times 12 \times 2}}{{100}}} \right) + \left[ {\frac{{\left( {30000 - x} \right) \times 10 \times 2}}{{100}}} \right] = 6480 \cr & \Leftrightarrow 24x + 600000 - 20x = 648000 \cr & \Leftrightarrow 4x = 48000 \cr & \Leftrightarrow x = 12000. \cr}\)

All DiscussionsClick here to write answer

Correct answer is: Rs. 12000 Explanation: Let the sum borrowed at 12% p.a. be Rs. x and that borrowed at 10% p.a. be Rs. (30000 - x) S.I. at the end of 2 years = Rs. (36480 - 30000) = Rs. 6480 \(\eqalign{ & \therefore \left( {\frac{{x \times 12 \times 2}}{{100}}} \right) + \left[ {\frac{{\left( {30000 - x} \right) \times 10 \times 2}}{{100}}} \right] = 6480 \cr & \Leftrightarrow 24x + 600000 - 20x = 648000 \cr & \Leftrightarrow 4x = 48000 \cr & \Leftrightarrow x = 12000. \cr}\) upendra ? answered undefined All Comments

Post your answers here:

Post

Post your comments here:

Message

Post

Cancel