A man borrowed ₹ 16000 from two persons. He paid 6%

Home » Aptitude » Simple interest » Question

A man borrowed ₹ 16000 from two persons. He paid 6% interest to one and 10% per annum to the other. In one year he paid total interest ₹1120. How much did he borrow at each rate?

1. ₹ 10000 ; ₹ 6000
2. ₹ 12000 ; ₹ 4000
3. ₹ 11000 ; ₹ 5000
4. ₹ 12500 ; ₹ 3500

Correct Option: B

Let the sum borrowed at 6% be ₹ p = P₁
Then the sum borrowed at 10% = ₹ (16000 – p ) = P₂
Time is one year in both cases
R₁ = 6%
R₂ = 10%
SI = SI₁ + SI₂

SI =	P₁R₁T	+	P₂R₂T	= 2200
	100		100

SI =	T	(P₁R₁ + P₂R₂)
	100

Or, P₁R₁ + P₂R₂ =	100 SI
	T

On substitution we get,

(p × 6) + (16000 – p)10 =	100 × 1120
	1

⇒ 160000 – 4p = 112000
⇒ 4p = 48000
⇒ p = 12000 and 16000 – p = ₹ 4000.