New Register here for RBI, SEBI & NABARD strategy workshop! April 9 at 7 PM

    Question

    Jeevan borrowed an amount of Rs. 'x' from a bank. Out of

    this, he lent 25% of the borrowed amount to Jeshu at a simple interest rate of 20% per annum for 2 years. The remaining amount was lent to Jigar at a compound interest rate of 33.33% per annum, compounded annually, for 2 years. The difference between the interest earned from Jigar and Jeshu is Rs. 17,400. Calculate the value of 'x'.
    A Rs. 29,840 Correct Answer Incorrect Answer
    B Rs. 36,000 Correct Answer Incorrect Answer
    C Rs. 30,750 Correct Answer Incorrect Answer
    D Rs. 36,750 Correct Answer Incorrect Answer
    E Rs. 30,150 Correct Answer Incorrect Answer

    Solution

    Let the amount borrowed by Jeevan be Rs. '300a' So, amount given to Jeshu = 300a X 0.25 = Rs. '75a' Amount given to Jigar = 300 x 0.75a = Rs. '225a' Interest paid by Jeshu = 75a X 2 X 0.20 = Rs. '30a' CI = P (1 + R/100)t - P Interest paid by Jigar = 225a X (4/3) 2 - 225a = Rs. '175a' ATQ, (175a - 30a) = 17400 Or, 145a = 17400 So, 'a' = 120 Amount borrowed by Jeevan = Rs. '120a' = 120 x 300 = Rs. 36,000

    Practice Next

    Relevant for Exams: