Quant Exam > Quant Questions > Ajay borrows Rs. 1500 from two moneylenders. ...
Start Learning for Free
Ajay borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12%?
- a)Rs. 1200
- b)Rs. 1300
- c)Rs. 1400
- d)Rs. 300
Correct answer is option 'A'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
Ajay borrows Rs. 1500 from two moneylenders. He pays interest at the r...
The average rate of interest he pays is 186 x 100/1500 = 12.4%.
The average rate of interest being 12.4%, it means that the ratio in which the two amounts would be distributed would be 4:1 (using alligation). Thus, the borrowing at 12% would be Rs. 1200.
Most Upvoted Answer
Ajay borrows Rs. 1500 from two moneylenders. He pays interest at the r...
Given:
Ajay borrows Rs.1500 from two moneylenders.
He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other.
The total interest he pays for the entire year is Rs.186.
To Find: How much does he borrow at the rate of 12%?
Solution:
Let's assume that Ajay borrows x rupees at 12% per annum and (1500 - x) rupees at 14% per annum.
According to the question,
Total interest paid = Rs.186
Therefore,
Interest on x rupees at 12% per annum + Interest on (1500 - x) rupees at 14% per annum = Rs.186
=> (x * 12 * 1/100) + ((1500 - x) * 14 * 1/100) = 186
=> 12x/100 + 21000/100 - 14x/100 = 186
=> -2x/100 = -24
=> x = (100 * 24)/2 = 1200
Hence, Ajay borrows Rs. 1200 at the rate of 12%. Therefore, option A is the correct answer.
Ajay borrows Rs.1500 from two moneylenders.
He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other.
The total interest he pays for the entire year is Rs.186.
To Find: How much does he borrow at the rate of 12%?
Solution:
Let's assume that Ajay borrows x rupees at 12% per annum and (1500 - x) rupees at 14% per annum.
According to the question,
Total interest paid = Rs.186
Therefore,
Interest on x rupees at 12% per annum + Interest on (1500 - x) rupees at 14% per annum = Rs.186
=> (x * 12 * 1/100) + ((1500 - x) * 14 * 1/100) = 186
=> 12x/100 + 21000/100 - 14x/100 = 186
=> -2x/100 = -24
=> x = (100 * 24)/2 = 1200
Hence, Ajay borrows Rs. 1200 at the rate of 12%. Therefore, option A is the correct answer.
|
Explore Courses for Quant exam
|
|
Similar Quant Doubts
Ajay borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12%?a)Rs. 1200b)Rs. 1300c)Rs. 1400d)Rs. 300Correct answer is option 'A'. Can you explain this answer?
Question Description
Ajay borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12%?a)Rs. 1200b)Rs. 1300c)Rs. 1400d)Rs. 300Correct answer is option 'A'. 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 Ajay borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12%?a)Rs. 1200b)Rs. 1300c)Rs. 1400d)Rs. 300Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ajay borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12%?a)Rs. 1200b)Rs. 1300c)Rs. 1400d)Rs. 300Correct answer is option 'A'. Can you explain this answer?.
Ajay borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12%?a)Rs. 1200b)Rs. 1300c)Rs. 1400d)Rs. 300Correct answer is option 'A'. 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 Ajay borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12%?a)Rs. 1200b)Rs. 1300c)Rs. 1400d)Rs. 300Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ajay borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12%?a)Rs. 1200b)Rs. 1300c)Rs. 1400d)Rs. 300Correct answer is option 'A'. Can you explain this answer?.
Solutions for Ajay borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12%?a)Rs. 1200b)Rs. 1300c)Rs. 1400d)Rs. 300Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Quant.
Download more important topics, notes, lectures and mock test series for Quant Exam by signing up for free.
Here you can find the meaning of Ajay borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12%?a)Rs. 1200b)Rs. 1300c)Rs. 1400d)Rs. 300Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Ajay borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12%?a)Rs. 1200b)Rs. 1300c)Rs. 1400d)Rs. 300Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Ajay borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12%?a)Rs. 1200b)Rs. 1300c)Rs. 1400d)Rs. 300Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Ajay borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12%?a)Rs. 1200b)Rs. 1300c)Rs. 1400d)Rs. 300Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Ajay borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12%?a)Rs. 1200b)Rs. 1300c)Rs. 1400d)Rs. 300Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice Quant tests.
|
|
Explore Courses for Quant exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up
within 7 days!
within 7 days!
Takes less than 10 seconds to signup