1.

Jatin took a certain amount as a loan from a bank at the rate of 13% p.a. simple interest and gave the same amount to Gabru as a loan at the rate of 15% p.a. If at the end of 15 years, he made a profit of Rs. 1470 in the deal, then the original amount was:1). Rs. 48002). Rs. 48903). Rs. 49004). Rs. 5400

Answer»

Given,

Time period, T = 15 years

Rate of interest for JATIN, R1 = 13%

Rate of interest for Gabru, R2 = 15%

Let the original amount of loan TAKEN by Jatin from the bank be Rs. x.

We KNOW the FORMULA for simple interest-

SI = (P × T × R)/100

Where,

P = Principal amount

T = Time period

R = Rate of interest

Profit = Rs. 1470

⇒ (P × T × R2)/100 – (P × T × R1)/100 = 1470

⇒ (x × 15 × 15/100) – (x × 13 × 15/100) = 1470

⇒ x = Rs. 4900

∴ The original amount of loan taken by Jatin from the bank = Rs. 4900


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