Question

Akshay borrowed Rs.1500 from a friend at the rate of 12% p.a. for 2

1/2

years. Find the interest and amount paid by him at the end of 21/2 years.​

Answer 1

Answer:

Step-by-step explanation:

Let Akshay lent Rs. X at 14% per year.

Hence, Money lent at 12% = (1500 - x);

Given, total interest = Rs. 186

(x×14×1)100+

   [(1500−x)×12×1]100

     = 186

14x100+18000−12x100=18614x+18000−12x=186×1002x=18600−18000x=6002=Rs. 300 Hence, money lent at 12%=1500−300=Rs.1200