Multiple choice

A person takes a loan of Rs. 40000 partly from a bank at 10% p.a. and remaining from another bank at 12% p.a. He pays total interest of ` 4440 per annum. Amount of loan taken from the first bank (in Rs.) is-

  1. Rs. 22000

  2. Rs. 20000

  3. Rs. 18000

  4. Rs. 16000
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let Rs x be from first bank at 10% and Rs(40000-x) from second bank at 12%. Total interest: 0.10x + 0.12(40000-x) = 4440. Solving: 0.10x + 4800 - 0.12x = 4440, so -0.02x = -360, giving x = 18000. This is a mixture problem using weighted interest rates.

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