A milkman borrowed a sum of Rs. 2,500 from two money lenders for one…

Question

A milkman borrowed a sum of Rs. 2,500 from two money lenders for one loan on simple interest at the rate of 5% and 7%, respectively, for a period of 2 years. If the total interest paid by him was Rs. 276, then how much…

Accepted Answer

Option B. Rs. 650. Answer & Solution Answer: Option B Solution: & Let, loan taken at rate of 7\% = x & Then, ( 2500 - x ) × 5100 + x × 7100 = 2762 & 12500 - 5x + 7x = 13800 & 2x = 13800 - 12500 & 2x = 1300 & x = 650\, Answer

A milkman borrowed a sum of Rs. 2,500 from two money lenders for one loan on simple interest at the rate of 5% and 7%, respectively, for a period of 2 years. If the total interest paid by him was Rs. 276, then how much did he borrow at the rate of 7% p.a.?

Solution