Q197
ArithmeticSimple & Compound Interest
A person lent two equal amounts of money at 12% p.a. for 3·5 years and 5·5 years respectively. If difference between two interests is ₹ 1,800, find total sum lent.
- a.₹ 6,000
- b.₹ 7,500
- c.₹ 12,000
- d.₹ 15,000
Answer: (D) ₹ 15,000
The two loans differ by 2 years at 12%, i.e. 24% of each amount, and this is ₹ 1,800. So each amount is ₹ 7,500 and the total lent is ₹ 15,000. ₹ 7,500 is only one of the two equal amounts.