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Vinay borrowed some money for one year at 8% per annum simple interest and after 18 months , he again borrowed the same money at a Simple Interest of 32% per annum. In both the cases, he paid Rs.5452. Which of the following could be the amount that was borrowed by Hari in each case if interest is paid half yearly?
- a)3900
- b)4200
- c)4500
- d)4700
- e)None of the Above
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
Vinay borrowed some money for one year at 8% per annum simple interest...
Answer –D.4700 Explanation : 16% for 6 months x = Borrowed money Take x =100% 116% of x = 5452 x = 4700
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Vinay borrowed some money for one year at 8% per annum simple interest...
Problem: Vinay borrowed some money for one year at 8% per annum simple interest and after 18 months, he again borrowed the same money at a Simple Interest of 32% per annum. In both the cases, he paid Rs.5452. Which of the following could be the amount that was borrowed by Hari in each case if interest is paid half-yearly?
Solution:
Let the amount borrowed by Vinay be x.
Case 1:
Vinay borrowed x for 1 year at 8% per annum simple interest.
Simple Interest for 1 year = (x * 8 * 1) / 100 = 0.08x
Simple Interest for 6 months = (0.08x * 1) / 2 = 0.04x
Amount to be paid after 6 months = x + 0.04x = 1.04x
Total amount to be paid after 1 year = 1.04x + 0.04x = 1.08x
Case 2:
Vinay borrowed x again for 18 months at 32% per annum simple interest.
Simple Interest for 1 year = (x * 32 * 1) / 100 = 0.32x
Simple Interest for 6 months = (0.32x * 1) / 2 = 0.16x
Amount to be paid after 6 months = x + 0.16x = 1.16x
Simple Interest for another 1 year = (1.16x * 32 * 1) / 100 = 0.3712x
Simple Interest for another 6 months = (0.3712x * 1) / 2 = 0.1856x
Amount to be paid after 18 months = 1.16x + 0.1856x = 1.3456x
Given that Vinay paid Rs.5452 in both the cases:
1.08x = 5452
x = 5050
1.3456x = 5452
x = 4050
Therefore, the amount borrowed by Vinay in the first case is Rs.5050 and in the second case is Rs.4050.
Now, we need to find out the amount that was borrowed by Hari in each case if interest is paid half-yearly.
Case 1:
Amount borrowed by Hari = Rs. 5050
Simple Interest for 6 months = (0.08 * 5050 * 1) / 2 = Rs. 202
Amount to be paid after 6 months = 5050 + 202 = Rs. 5252
Total amount to be paid after 1 year = 5252 + 202 = Rs. 5454
Case 2:
Amount borrowed by Hari = Rs. 4050
Simple Interest for 6 months = (0.32 * 4050 * 1) / 2 = Rs. 648
Amount to be paid after 6 months = 4050 + 648 = Rs. 4698
Simple Interest for another 6 months = (0.32 * 4698 * 1) / 2 = Rs. 752.64
Amount to be paid after 1 year = 4698 +
Solution:
Let the amount borrowed by Vinay be x.
Case 1:
Vinay borrowed x for 1 year at 8% per annum simple interest.
Simple Interest for 1 year = (x * 8 * 1) / 100 = 0.08x
Simple Interest for 6 months = (0.08x * 1) / 2 = 0.04x
Amount to be paid after 6 months = x + 0.04x = 1.04x
Total amount to be paid after 1 year = 1.04x + 0.04x = 1.08x
Case 2:
Vinay borrowed x again for 18 months at 32% per annum simple interest.
Simple Interest for 1 year = (x * 32 * 1) / 100 = 0.32x
Simple Interest for 6 months = (0.32x * 1) / 2 = 0.16x
Amount to be paid after 6 months = x + 0.16x = 1.16x
Simple Interest for another 1 year = (1.16x * 32 * 1) / 100 = 0.3712x
Simple Interest for another 6 months = (0.3712x * 1) / 2 = 0.1856x
Amount to be paid after 18 months = 1.16x + 0.1856x = 1.3456x
Given that Vinay paid Rs.5452 in both the cases:
1.08x = 5452
x = 5050
1.3456x = 5452
x = 4050
Therefore, the amount borrowed by Vinay in the first case is Rs.5050 and in the second case is Rs.4050.
Now, we need to find out the amount that was borrowed by Hari in each case if interest is paid half-yearly.
Case 1:
Amount borrowed by Hari = Rs. 5050
Simple Interest for 6 months = (0.08 * 5050 * 1) / 2 = Rs. 202
Amount to be paid after 6 months = 5050 + 202 = Rs. 5252
Total amount to be paid after 1 year = 5252 + 202 = Rs. 5454
Case 2:
Amount borrowed by Hari = Rs. 4050
Simple Interest for 6 months = (0.32 * 4050 * 1) / 2 = Rs. 648
Amount to be paid after 6 months = 4050 + 648 = Rs. 4698
Simple Interest for another 6 months = (0.32 * 4698 * 1) / 2 = Rs. 752.64
Amount to be paid after 1 year = 4698 +
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Vinay borrowed some money for one year at 8% per annum simple interest and after 18 months , he again borrowed the same money at a Simple Interest of 32% per annum. In both the cases, he paid Rs.5452. Which of the following could be the amount that was borrowed by Hari in each case if interest is paid half yearly?a)3900b)4200c)4500d)4700e)None of the AboveCorrect answer is option 'D'. Can you explain this answer?
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Vinay borrowed some money for one year at 8% per annum simple interest and after 18 months , he again borrowed the same money at a Simple Interest of 32% per annum. In both the cases, he paid Rs.5452. Which of the following could be the amount that was borrowed by Hari in each case if interest is paid half yearly?a)3900b)4200c)4500d)4700e)None of the AboveCorrect answer is option 'D'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Vinay borrowed some money for one year at 8% per annum simple interest and after 18 months , he again borrowed the same money at a Simple Interest of 32% per annum. In both the cases, he paid Rs.5452. Which of the following could be the amount that was borrowed by Hari in each case if interest is paid half yearly?a)3900b)4200c)4500d)4700e)None of the AboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Vinay borrowed some money for one year at 8% per annum simple interest and after 18 months , he again borrowed the same money at a Simple Interest of 32% per annum. In both the cases, he paid Rs.5452. Which of the following could be the amount that was borrowed by Hari in each case if interest is paid half yearly?a)3900b)4200c)4500d)4700e)None of the AboveCorrect answer is option 'D'. Can you explain this answer?.
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