Multiple choice

X borrowed Rs. 10,000/- from two different banks. For one loan, he paid 12% and for other 14% per annum. After one year, he paid Rs.1280/- as interest. How much did he borrow at the rate of 14%?

  1. 4000

  2. 6000

  3. 5000

  4. 4500
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A Correct answer
Explanation

Let x be the amount at 14% and (10000-x) be the amount at 12%. The equation is 0.14x + 0.12(10000-x) = 1280, which simplifies to 0.02x + 1200 = 1280. Solving for x gives 0.02x = 80, so x = 4000.

AI explanation

Let the amount borrowed at 14% be x, making the amount borrowed at 12% equal to 10000 minus x. Using the simple interest formula for one year, the total interest is 0.14x plus 0.12 times 10000 minus x, which equals 1280. Simplifying this gives 0.14x minus 0.12x plus 1200 equals 1280. Solving 0.02x equals 80 results in x equal to 4000.

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