Multiple choice

A person takes a loan of Rs.10,000 partly from a bank at 8% per annum and remaining from another bank at 10% per annum. He pays a total interest of Rs.950 per annum. Amount of loan taken from the first bank (in Rs.) is:

  1. Rs. 3200

  2. Rs. 2500

  3. Rs. 2000

  4. Rs. 1600
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let x be the amount from the first bank at 8%, so (10000-x) is from the second bank at 10%. Total interest: 0.08x + 0.10(10000-x) = 950. Solving: 0.08x + 1000 - 0.10x = 950, so -0.02x = -50, giving x = 2500. This is a standard mixture problem: set up variables for each component and equate the total interest.

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