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LIC AAO Prelims PYP >> Feb 17, 2023 Shift 4 >> Quantitative Aptitude

Question :

Pihu borrowed Rs. 60000 in two schemes, one part at 20% on compound interest for two years and another at 15% on simple interest for five years. If Pihu paid total interest on both schemes is Rs. 34150, then what is the amount of money he borrowed on compound interest?

(1 Mark)

1. Rs. 30000

2. Rs. 35000

3. Rs. 20000

4. Rs. 40000

5. Rs. 25000

Correct Answer : 2
Solution :

Let on compound interest, she borrowed = Rs. P

So, on simple interest, she borrowed = Rs. (60000 - P)

(60000 - P) * 15 * 5/100 + P[(1 + 20/100)2 - 1] = 34150

=> P = Rs. 35000

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