Ajay borrows Rs 1500 from two money lenders He pays interest at the rate of 12 per annum for one loa...........

Quantitative Aptitude (CDS) Simple Interest

Ajay borrows Rs.1500 from two money lenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs.186.How much does he borrow at the rate of 12%?

300 Rs

1200 Rs

1000 Rs

900 Rs

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Explanation:

Let x rupees take at the rate of 12%
S.I=x(12) (1) /100
S.I=(1500-x) 14(1) /100
S.I=186
186=12 x/100 +(1500-x) 14/100
18600=12x-14x+1500(14)
2x=21000-18600
=2400
x=1200