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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?
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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.
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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.
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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?
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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?.
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