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DIRECTIONS: Choose the most appropriate answer:
Q. A banker lent Rs 6000/- at 10% and Rs 5000/- at 12% at the same time and for same period of time. The banker received Rs 2400 as total interest on both loans. Find the period for which the banker had lent the amount.
  • a)
    3 years 6 months
  • b)
    3 years
  • c)
    2 years 6 months
  • d)
    2 years
Correct answer is option 'D'. Can you explain this answer?
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DIRECTIONS: Choose the most appropriate answer:Q. A banker lent Rs 600...
Let time period be x years
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DIRECTIONS: Choose the most appropriate answer:Q. A banker lent Rs 600...
Solution:

Let the time period for which the amount was lent be 't' years.

Given, the banker lent Rs 6000/- at 10% and Rs 5000/- at 12% at the same time and for the same period of time.

Interest obtained on Rs 6000/- at 10% for 't' years = (6000*10*t)/100 = 600t

Interest obtained on Rs 5000/- at 12% for 't' years = (5000*12*t)/100 = 600t

Total interest obtained on both loans = 2400

Therefore, 600t + 600t = 2400

Or, 1200t = 2400

Or, t = 2 years

Hence, the banker had lent the amount for 2 years.

Therefore, option D is the correct answer.
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DIRECTIONS: Choose the most appropriate answer:Q. A banker lent Rs 6000/- at 10% and Rs 5000/- at 12% at the same time and for same period of time. The banker received Rs 2400 as total interest on both loans. Find the period for which the banker had lent the amount.a)3 years 6 monthsb)3 yearsc)2 years 6 monthsd)2 yearsCorrect answer is option 'D'. Can you explain this answer?
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DIRECTIONS: Choose the most appropriate answer:Q. A banker lent Rs 6000/- at 10% and Rs 5000/- at 12% at the same time and for same period of time. The banker received Rs 2400 as total interest on both loans. Find the period for which the banker had lent the amount.a)3 years 6 monthsb)3 yearsc)2 years 6 monthsd)2 yearsCorrect answer is option 'D'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about DIRECTIONS: Choose the most appropriate answer:Q. A banker lent Rs 6000/- at 10% and Rs 5000/- at 12% at the same time and for same period of time. The banker received Rs 2400 as total interest on both loans. Find the period for which the banker had lent the amount.a)3 years 6 monthsb)3 yearsc)2 years 6 monthsd)2 yearsCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for DIRECTIONS: Choose the most appropriate answer:Q. A banker lent Rs 6000/- at 10% and Rs 5000/- at 12% at the same time and for same period of time. The banker received Rs 2400 as total interest on both loans. Find the period for which the banker had lent the amount.a)3 years 6 monthsb)3 yearsc)2 years 6 monthsd)2 yearsCorrect answer is option 'D'. Can you explain this answer?.
Solutions for DIRECTIONS: Choose the most appropriate answer:Q. A banker lent Rs 6000/- at 10% and Rs 5000/- at 12% at the same time and for same period of time. The banker received Rs 2400 as total interest on both loans. Find the period for which the banker had lent the amount.a)3 years 6 monthsb)3 yearsc)2 years 6 monthsd)2 yearsCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Defence. Download more important topics, notes, lectures and mock test series for Defence Exam by signing up for free.
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