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  • A man borrowed Rs.55000 from two banks under compound interest, compounded annually. One bank charged interest

 

A man borrowed Rs.55000 from two banks under compound interest, compounded annually. One bank charged interest at the rate of 8% per year and the other bank at 12% per year. If at the end of the year the man paid Rs.4900 as the total interest to the two banks, how much loan did he take from the first bank?

 

  • Option 1)

     

    Rs.47500

     

  • Option 2)

     

    Rs.42500

     

  • Option 3)

     

    Rs.32500

     

  • Option 4)

     

    Rs.45200

     

  • Option 5)

     

    Rs.12500

     

Answers (1)

best_answer

Let if we lent the whole sum at 12 % of interest =\frac{ 12}{100} \times 55000 = 6600 Rs.

Difference B/W origibal and assumed = 1700

Is is because of difference in rate of interest = 12 - 8 = 4

So  the sum is lent at 8 % interest= \frac{1700}{4}\times 100 = 42500

Posted by

rishi.raj

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