Multiple choice

Bharat borrowed Rs. 20,000, partly from a friend at 12% simple interest and the remaining from a bank at 15% simple interest. At the end of 2 years, he paid back an amount of Rs. 25,700. What is the amount that he borrowed from the bank?

  1. Rs. 15,000

  2. Rs. 10

  3. Rs. 8000

  4. Rs. 5000
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A Correct answer
Explanation

Let x be the amount borrowed from the bank at 15%. Then (20000 - x) was borrowed at 12%. Total interest = 25700 - 20000 = 5700. Interest = (x * 0.15 * 2) + ((20000 - x) * 0.12 * 2) = 5700. 0.3x + 4800 - 0.24x = 5700. 0.06x = 900. x = 15000.

AI explanation

Let the amount borrowed from the bank be x rupees, so the amount borrowed from the friend is 20000 minus x. The total interest paid is the settlement amount minus the principal, which is 25700 minus 20000, equaling Rs. 5700. Using the simple interest formula for both parts, x multiplied by 15 multiplied by 2 divided by 100 plus 20000 minus x multiplied by 12 multiplied by 2 divided by 100 equals 5700. Solving this equation yields 0.3x plus 4800 equals 5700, so 0.3x equals 900, which means the amount borrowed from the bank is Rs. 15000.

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