Q95
ArithmeticSimple & Compound Interest
A man borrowed ₹ 2,500 at 4% p.a. and ₹ 1,800 at 5% p.a. simple interest for the same period. If he pays ₹ 570 as total interest, find the time for which the sums were borrowed.
- a.2 years
- b.3 years
- c.4 years
- d.5 years
Answer: (B) 3 years
Yearly interest = 4% of 2500 + 5% of 1800 = 100 + 90 = ₹ 190. Time = 570 ÷ 190 = 3 years. 2 or 4 years would give ₹ 380 or ₹ 760.