Correct Answer - Option 1 : Rs. 9850
Given:
Total loan provided by the bank = 80,000/-
Ratio of dividing money = 4 ∶ 5 ∶ 7
Interest paid by 1st friend = 8%
Interest paid by 2nd friend = 12%
Interest paid by 3rd friend = 15%
Concept:
Using ratio, calculate the amount borrowed by each, Then, calculate the interest paid by them.
Calculation:
Let the money borrowed by the 3 friends = 4x, 5x, 7x
Sum of the ratio = Rs. 80,000
⇒ 4x + 5x + 7x = 80,000
⇒ 16x = 80,000
⇒ x = 5000
∴ Amount borrowed by 1st friend = 4x = 4 × 5000 = Rs. 20,000
⇒ Amount borrowed by 2st friend = 5x = 5 × 5000 = Rs. 25,000
⇒ Amount borrowed by 3rd friend = 7x = 7 × 5000 = Rs. 35,000
∴ Interest paid by 1st friend = 8% of 20,000 = 1600/-
⇒ Interest paid by 2st friend = 12% of 25,000 = 3000/-
⇒ Interest paid by 3st friend = 15% of 35,000 = 5250/-
Sum of Interest paid by farmers = 1600 + 3000 + 5250
= Rs. 9850