LIVE Course for free

Rated by 1 million+ students
Get app now
0 votes
30 views
in Aptitude by (54.0k points)
closed by
A man borrowed a certain sum of money from SBI bank at 10% per annum on simple interest for 3 years and he lend to his friend same money for same year at 15% per annum on simple interest. After 3 years he would gain Rs 300, then find how much money he borrowed from bank?
1. Rs 3000
2. Rs 2000
3. Rs 1000
4. Rs 4000

1 Answer

0 votes
by (30.0k points)
selected by
 
Best answer
Correct Answer - Option 2 : Rs 2000

Given 

Rate of Interest = 10% per annum 

Time = 3 years 

Profit of Man = Rs 300

Formula Used 

Simple Interest = Principal × time × Rate/100

Calculation

⇒ let the amount he borrowed be x 

⇒ 300 = [(x × 15 × 3)/100] - [(x × 10 × 3)/100]

⇒ 300 = x × 5 × 3/100

⇒ x = 2000

∴ He borrowed Rs 2000 from the SBI bank 

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...