If on an average, 20% rate of interest was charged on borrowed funds, then the total borrowed funds used by this company in the given 2 years amounted to

Rs 221 lakh

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Rs 195 lakh

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Rs 368 lakh

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Rs 515 lakh

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Solution

The correct option is D Rs 515 lakh
As calculated in the previous question, total interest = (39 + 64) = Rs 103 lakh

Given that, this interest is calculated on 20% of the borrowed fund.Hence, borrowed funds = $\frac{(103 \times 100)}{20}$ = Rs 515 lakh.

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