Exams › SSC CGL (Prelims) › General
Priya borrowed ₹40,000 from two lenders under simple-interest terms: Lender M charges 8% p.a. and Lender N charges 5% p.a. Priya kept both loans for exactly 5 years and then paid the accumulated interest, which was ₹14,000. If she had interchanged the principal amounts, her five-year interest outgo would have been ₹2,000 less. How much did she borrow from Lender M at 8% p.a.?
- ₹ 25,000
- ₹ 22,000
- ₹ 26,667
- ₹ 16,000
Correct answer: ₹ 26,667
Solution
Let the amount borrowed from M be x and from N be 40000 - x. The 5-year interest is 0.4x + 0.25(40000 - x) = 14000, which gives x = 26666.67. This matches ₹26,667, and swapping the principals reduces the interest by ₹2000 as stated.
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