Exams › IBPS PO › General Awareness

A man borrowed a total amount of ₹36,000. A part of it was borrowed at simple interest at 12% per annum and the remaining part at simple interest at 10% per annum. If at the end of 2 years, he paid ₹43,920 in all to settle the loan amount, find the amount borrowed at 12% per annum.

1. 19000
2. 20000
3. 18000
4. 17000

Correct answer: 18000

Solution

The total repayment after 2 years is the sum of both principals and their simple interests. Let the amount at 12% be x, so the amount at 10% is 36000 - x. Using simple interest for 2 years gives the total as 43920, which leads to x = 18000.

Related IBPS PO General Awareness questions

• Ajay has invested ₹25,000 at 10% per annum simple interest for 3 years, and Vijay has invested ₹20,000 at 12% per annum simple interest for the same time. Find the difference between their interests earned.
• The interest on a certain deposit at 9% per annum is ₹405 in one year. How much additional interest will be earned in one year on the same deposit at 10% per annum?
• A sum of money is invested at simple interest at 1.5% p.a. for 8 years and yields interest of ₹3000. What will be the simple interest on the same sum at 5% for 6 years?
• Tanya and Tashu invested in a scheme offering simple interest at the rates of 12% and 15% per annum for 4 years and 3 years respectively. If Tanya's investment is ₹300 less than Tashu's, find the amount invested by Tashu, given that the interest received by both is equal.
• The simple interest on ₹P at 15% p.a. for 2 years is ₹300 more than the simple interest on ₹(P + 500) at 12% for 2 years. What is the interest if (2P + 500) is lent for 2 years at 12% simple interest rate?
• Arun invested a certain sum of money at a rate of interest of 9% per annum. If the ratio of the amount to interest is 216:91, then which of the following rate-time combinations is correct? I: 10%, 2 years II: 20%, 3 years III: 25%, 3 years

⚔️ Practice IBPS PO General Awareness free + battle 1v1 →