A person borrowed ₹ 1,760 at a simple interest rate of 6\% per annum and ₹ 2,240 at a simple interest rate of 9\% per annum for the same time period. - Quantitative Aptitude MCQ Prepp 2026 | ExamTest.live

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A person borrowed ₹ 1, 760 at a simple interest rate of 6% per annum and ₹ 2, 240 at a simple interest rate of 9% per annum for the same time period. He had to pay a total of ₹ 1, 536 as interest. Find the time period (in years).

Solution & Step-by-step Explanation

Let the common time period be T years. The formula for simple interest (SI) is: SI = \frac{P \times R \times T}{100} According to the question, the total interest paid is the sum of interest from both loans: SI_{1} + SI_{2} = 1536 \frac{1760 \times 6 \times T}{100} + \frac{2240 \times 9 \times T}{100} = 1536 Simplifying the numerators: \frac{10560 T + 20160 T}{100} = 1536 \frac{30720 T}{100} = 1536 307.2 T = 1536 T = \frac{1536}{307.2} = 2.5 years Therefore, the time period is 2.5 years.

Try it yourself before checking the explanation above.

A person borrowed ₹ 1, 760 at a simple interest rate of 6% per annum and ₹ 2, 240 at a simple interest rate of 9% per annum for the same time period. He had to pay a total of ₹ 1, 536 as interest. Find the time period (in years).

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