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A borrowed ₹ 1500 at 4% per annum and ₹ 1400 at 5% per annum for the same period. He paid ₹ 390 as total interest. Find the time for which he borrowed the sum.
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- 3.5 years
- 2.5 years
- 3 years
- 4 years
- 3.5 years
Correct Option: C
We know that ,
SI = SI1 + SI2
| SI = | + | ||
| 100 | 100 |
| or, T = | SI |
| P1R1 + P2R2 |
| T = | |
| (1500 × 4) + (1400 × 5) |
| T = | ||
| 13000 |
T = 3 years.
