Question
Download Solution PDFRaj borrowed Rs. 20000 partly from a friend at 12 % SI and remaining from a bank at 15 % SI. At the end of 2 years, he paid back an amount of Rs. 25700. What is the amount borrowed from the bank?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFFormula Used:
SI (friend) = Principal × Rate × Time / 100
SI (bank) = Principal × Rate × Time / 100
Calculation:
We have,
⇒ SI (friend) = (20000 - x) × 12 × 2 / 100
⇒ SI (friend) = (20000 - x) × 24 / 100
⇒ SI (friend) = 4800 - 0.24x
⇒ SI (bank) = x × 15 × 2 / 100
⇒ SI (bank) = x × 30 / 100
⇒ SI (bank) = 0.3x
Total repayment: Principal + SI(friend) + SI(bank)
⇒ 20000 + (4800 - 0.24x) + 0.3x = 25700
⇒ 24800 + 0.06x = 25700
⇒ 0.06x = 25700 - 24800
⇒ 0.06x = 900
⇒ x = 900 / 0.06
⇒ x = 15000
∴ The amount borrowed from the bank is Rs. 15000.
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