Question

Pratibha took a loan of Rs. 15,000 for Canara Bank at a simple rate of interest is  12% and another amount at a simple rate of interest is 15% for two years. The total interest Rs. 9,000 paid by Pratibha to Canara Bank. Then find the amount taken by Pratibha to Canara Bank.  
1. Rs. 35,000
2. Rs. 43,000
3. Rs. 32,000
4. Rs. 33,000

Answer 1

Correct Answer - Option 4 : Rs. 33,000

Given:

Principal is Rs. 15,000

First rate of interest is 12%

Second rate of interest is 15%

Time period is 2 years

Simple interest is Rs. 9,000

Formula used:

simple interest = (Principal × Rate × Time)/100

Calculation:

Let second Principal be Rs.x

⇒ 9,000 = {(15,000 × 12 × 2)/100} + {(x × 15 × 2)/100}

⇒ 9,000 = 3,600 + (3x/10)

⇒ x = {(9,000 – 3,600) × 10)/3}

⇒ x = {(5,400 × 10)/3}

⇒ x = Rs. 18,000

The total amount taken a loan by Pratibha,

⇒ Rs. 15,000 + Rs. 18,000

⇒ Rs. 33,000

∴ The total amount taken a loan by Pratibha is Rs. 33,000.