A took two loans altogether of Rs 1500 from bank B & C. B charged 14% simple interest per annum, while C charged 15% simple interest per annum. If the total interest paid by A in one year was Rs 216, then A borrowed from B & C was?
Answer & explanation
Correct answer: option 4
SI = \(\frac{P × R × T}{100}\)
Let the sum borrowed from B is x, and from C is (1500 - x)
Total SI ⇒ \(\frac{x × 14 × 1}{100}\) + \(\frac{(1500 - x) × 15}{100}\) = 216
14x + 22500 - 15x = 21600
x = 900 (from B) 1500 - 900 = 600 (from C)