Electrical Engineering (EE) Exam > Electrical Engineering (EE) Questions > A, B and C borrow Rs. 29,200 in all at 4% si...
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A, B and C borrow Rs. 29,200 in all at 4% simple interest and pay back equal amounts in full settlement of their respective debts after 5, 10 and 15 years, respectively. Find the sum borrowed by C.
- a)Rs. 11,200
- b)Rs. 9,600
- c)Rs. 8,400
- d)Rs. 7,600
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
A, B and C borrow Rs. 29,200 in all at 4% simple interest and pay bac...
Suppose A, B and C borrow Rs. x, Rs. y and Rs. z, respectively.
x + y + z = 29,200 .........(i)
Amount paid back by A = Rs. x + x(4)(5/100) = Rs. 6x/5
Amount paid back by B = Rs. y + y(4)(10/100) = Rs. 7y/5
Amount paid back by C = Rs. z + z(4)(15/100) = Rs. 8z/5
6x/5 = 7y/5 = 8z/5
i.e. 6x = 7y = 8z .........(ii)
Solving (i) and (ii) simultaneously, we get
x = 11,200, y = 9,600, z = 8,400
Hence, A, B and C borrow Rs. 11,200, Rs. 9,600 and Rs. 8,400, respectively.
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A, B and C borrow Rs. 29,200 in all at 4% simple interest and pay bac...
To solve this question, we need to use the formula for simple interest:
Simple Interest (SI) = (Principal x Rate x Time) / 100
Let's consider the amount borrowed by A, B, and C as P1, P2, and P3, respectively.
Given:
A borrows Rs. P1 and pays back in 5 years.
B borrows Rs. P2 and pays back in 10 years.
C borrows Rs. P3 and pays back in 15 years.
We know that the total amount borrowed is Rs. 29,200. So, we can write the equation as:
P1 + P2 + P3 = Rs. 29,200 ----(1)
We also know that the interest rate is 4% for all three borrowers.
Using the simple interest formula, we can write the following equations:
SI1 = (P1 x 4 x 5) / 100 ----(2)
SI2 = (P2 x 4 x 10) / 100 ----(3)
SI3 = (P3 x 4 x 15) / 100 ----(4)
Since all three borrowers pay back equal amounts in full settlement, the total interest paid by each borrower must be the same. Therefore, we can equate the interest amounts:
SI1 = SI2 = SI3
(P1 x 4 x 5) / 100 = (P2 x 4 x 10) / 100 = (P3 x 4 x 15) / 100
Simplifying the equation, we get:
P1/2 = P2/4 = P3/6
Now, let's substitute the value of P2 in terms of P1 and P3:
P2 = (P1/2) x 4 = 2P1 ----(5)
Substituting the value of P3 in terms of P1:
P3 = (P1/6) x 4 = (2P1/3) ----(6)
Substituting the values of P2 and P3 in equation (1):
P1 + 2P1 + 2P1/3 = Rs. 29,200
Multiplying through by 3 to eliminate the fraction:
3P1 + 6P1 + 2P1 = 3 x 29,200
11P1 = 87,600
P1 = 87,600 / 11
P1 = Rs. 8,400
Therefore, the sum borrowed by C (P3) is Rs. 8,400, which matches option C.
Simple Interest (SI) = (Principal x Rate x Time) / 100
Let's consider the amount borrowed by A, B, and C as P1, P2, and P3, respectively.
Given:
A borrows Rs. P1 and pays back in 5 years.
B borrows Rs. P2 and pays back in 10 years.
C borrows Rs. P3 and pays back in 15 years.
We know that the total amount borrowed is Rs. 29,200. So, we can write the equation as:
P1 + P2 + P3 = Rs. 29,200 ----(1)
We also know that the interest rate is 4% for all three borrowers.
Using the simple interest formula, we can write the following equations:
SI1 = (P1 x 4 x 5) / 100 ----(2)
SI2 = (P2 x 4 x 10) / 100 ----(3)
SI3 = (P3 x 4 x 15) / 100 ----(4)
Since all three borrowers pay back equal amounts in full settlement, the total interest paid by each borrower must be the same. Therefore, we can equate the interest amounts:
SI1 = SI2 = SI3
(P1 x 4 x 5) / 100 = (P2 x 4 x 10) / 100 = (P3 x 4 x 15) / 100
Simplifying the equation, we get:
P1/2 = P2/4 = P3/6
Now, let's substitute the value of P2 in terms of P1 and P3:
P2 = (P1/2) x 4 = 2P1 ----(5)
Substituting the value of P3 in terms of P1:
P3 = (P1/6) x 4 = (2P1/3) ----(6)
Substituting the values of P2 and P3 in equation (1):
P1 + 2P1 + 2P1/3 = Rs. 29,200
Multiplying through by 3 to eliminate the fraction:
3P1 + 6P1 + 2P1 = 3 x 29,200
11P1 = 87,600
P1 = 87,600 / 11
P1 = Rs. 8,400
Therefore, the sum borrowed by C (P3) is Rs. 8,400, which matches option C.
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A, B and C borrow Rs. 29,200 in all at 4% simple interest and pay back equal amounts in full settlement of their respective debts after 5, 10 and 15 years, respectively. Find the sum borrowed by C.a)Rs. 11,200b)Rs. 9,600c)Rs. 8,400d)Rs. 7,600Correct answer is option 'C'. Can you explain this answer?
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A, B and C borrow Rs. 29,200 in all at 4% simple interest and pay back equal amounts in full settlement of their respective debts after 5, 10 and 15 years, respectively. Find the sum borrowed by C.a)Rs. 11,200b)Rs. 9,600c)Rs. 8,400d)Rs. 7,600Correct answer is option 'C'. Can you explain this answer? for Electrical Engineering (EE) 2024 is part of Electrical Engineering (EE) preparation. The Question and answers have been prepared according to the Electrical Engineering (EE) exam syllabus. Information about A, B and C borrow Rs. 29,200 in all at 4% simple interest and pay back equal amounts in full settlement of their respective debts after 5, 10 and 15 years, respectively. Find the sum borrowed by C.a)Rs. 11,200b)Rs. 9,600c)Rs. 8,400d)Rs. 7,600Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Electrical Engineering (EE) 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A, B and C borrow Rs. 29,200 in all at 4% simple interest and pay back equal amounts in full settlement of their respective debts after 5, 10 and 15 years, respectively. Find the sum borrowed by C.a)Rs. 11,200b)Rs. 9,600c)Rs. 8,400d)Rs. 7,600Correct answer is option 'C'. Can you explain this answer?.
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