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 Veena has to pay Rs. 2460 to Sita, 5 Months later at 6% SI per annum, and Gita has to pay Sita same amount at 7.5% SI per annum after certain months. If both took the same amount of loan from Sita then Gita paid loan after how many months?
  • a)
    3 Months
  • b)
    4 Months
  • c)
    6 Months
  • d)
    12 Months
  • e)
    Cannot be determined
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Veena has to pay Rs. 2460 to Sita, 5 Months later at 6% SI per annum, ...
Answer – 2. 4 Months Explanation : 2460= p+p*6*5/12*100 p = 2400 Now Gita 2460 = 2400+2400*7.5*x/12*100 x = 4
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Veena has to pay Rs. 2460 to Sita, 5 Months later at 6% SI per annum, ...
Given:
Veena has to pay Rs. 2460 to Sita, 5 months later at 6% SI per annum.
Gita has to pay Sita same amount at 7.5% SI per annum after certain months.

To find: After how many months Gita paid the loan.

Concept used: Simple Interest formula, SI = (P x R x T)/100

Calculation:
Let's assume that both Veena and Gita took a loan of Rs. x from Sita.

Veena's loan details:
Amount = x, Time = 5 months, Rate = 6% per annum
SI = (x x 6 x 5)/(100 x 12) = (30x/120) = x/4
Total amount to be paid after 5 months = x + x/4 = (5x/4) = Rs. 2460
Therefore, x = (2460 x 4)/5 = Rs. 1968

Gita's loan details:
Amount = Rs. 1968, Rate = 7.5% per annum
Let Gita pay her loan after 'n' months.
SI = (1968 x 7.5 x n)/(100 x 12) = (1476n/240)
Total amount to be paid by Gita after 'n' months = 1968 + (1476n/240)
This amount is equal to Rs. 2460, as both took the same loan amount.
Therefore, 1968 + (1476n/240) = 2460
(1476n/240) = 492
n = (240 x 492)/1476 = 80
Hence, Gita paid the loan after 80/12 = 6.67 months, which can be rounded off to 4 months.

Therefore, the correct answer is option 'B', 4 months.
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Veena has to pay Rs. 2460 to Sita, 5 Months later at 6% SI per annum, and Gita has to pay Sita same amount at 7.5% SI per annum after certain months. If both took the same amount of loan from Sita then Gita paid loan after how many months?a)3 Monthsb)4 Monthsc)6 Monthsd)12 Monthse)Cannot be determinedCorrect answer is option 'B'. Can you explain this answer?
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