A man borrowed Rs. 16,000 from two persons. He paid 6\% interest per annum to one and 10\% interest per annum to the other. In the first year, he paid - Quantitative Aptitude MCQ Competitive Examination 2026 | ExamTest.live

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A man borrowed Rs. 16, 000 from two persons. He paid 6% interest per annum to one and 10% interest per annum to the other. In the first year, he paid a total interest of Rs. 1, 120 . How much did he borrow from the first and second person respectively?

Solution & Step-by-step Explanation

Let the amount borrowed at 6% be x and the amount borrowed at 10% be y . Given: x + y = 16000 ⟹ y = 16000 - x — (Equation 1) The total interest for 1 year is Rs. 1, 120 : \frac{x \times 6 \times 1}{100} + \frac{y \times 10 \times 1}{100} = 1120 6 x + 10 y = 112000 — (Equation 2) Substitute Equation 1 into Equation 2: 6 x + 10 (16000 - x) = 112000 6 x + 160000 - 10 x = 112000 - 4 x = 112000 - 160000 = - 48000 4 x = 48000 ⟹ x = 12000 Then, y = 16000 - 12000 = 4000 . Therefore, he borrowed Rs. 12, 000 and Rs. 4, 000 respectively.

Try it yourself before checking the explanation above.

A man borrowed Rs. 16, 000 from two persons. He paid 6% interest per annum to one and 10% interest per annum to the other. In the first year, he paid a total interest of Rs. 1, 120 . How much did he borrow from the first and second person respectively?

Rs. 12,500; Rs. 3,500

Rs. 11,000; Rs. 5,000

Rs. 12,000; Rs. 4,000

Rs. 10,000; Rs. 6,000

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