Multiple choice

Animesh borrowed Rs. 900 at 4% p.a. and Rs. 1100 at 5% p.a. for the same duration. If he had to pay Rs. 364 in total as the interest, what is the time period that he borrowed the sum for (in years)?

  1. 6

  2. 4

  3. 8

  4. 5

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

Let us assume that the tenure is n years. As the calculation is as per simple interest: Total interest = 900 * 4 * n/100 + 1100 * 5* n/100, i.e. 91n => 91 n = 364 (as per given data) So, n = 4 years, i.e. the tenure is 4 years. So, option 2 is correct.

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