Question

Sohan borrows Rs.3,000 at 5 percent and Rs.4,500 at 6 percent at the same time and on the condition that the whole loan will be repaid when the interest amounts to Rs.1,260. The loan will have to be repaid after -

• A. 6 years
• B. 3 years
• C. 5 years
• D. 2 years

Answer 1

The correct option is B 3 years

$P_1=3000$

$R_1=5$%

$P_2=4500$

$R_2=6$%

Let the time after which the interest and the loan is repaid $=T$.

$\therefore S.I_1=\frac{P_{1}T{R}_1}{100}$

$=\frac{3000\times T\times 5}{100}$

$=150T$

${S.I}_2=\frac{P_{2}T{R}_2}{100}$

$=\frac{4500\times T\times 6}{100}$

$=270T$

ATP,

$150T+270T=1260$

$\Rightarrow 420T=1260$

$\Rightarrow T=3$

Hence loan will have to be repaid after $3$ years.