Multiple choice

Vishwas borrowed a total amount of Rs. 30,000, part of it on simple interest rate of 12 percent per annum and remaining on simple interest rate of 10 percent per annum. If at the end of 2 years, he paid in all Rs. 36,480 to settle the loan amount, what was the amount borrowed at 12 percent per annum?

  1. Rs. 16,000

  2. Rs. 18,000

  3. Rs. 17,500

  4. Rs. 12,000

  5. None of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Let x be the amount at 12%. Interest = (x * 12 * 2)/100 + ((30000 - x) * 10 * 2)/100 = 6480. 0.24x + 6000 - 0.2x = 6480. 0.04x = 480. x = 12000.

AI explanation

The total interest paid is 36480 minus 30000, which equals 6480. Let the amount borrowed at 12 percent be x, so the amount borrowed at 10 percent is (30000 minus x). Using the simple interest formula, the total interest equation is (x * 12 * 2) / 100 plus ((30000 minus x) * 10 * 2) / 100 = 6480. Solving this linear equation, 24x plus 600000 minus 20x = 648000, which simplifies to 4x = 48000, making x equal to Rs. 12000.

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