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A milkman borrowed a sum of Rs 2 500 from two...

This question belongs to Arithmetic Ability Interest
Interest
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A milkman borrowed a sum of Rs. 2,500 from two money lenders for one loan on simple interest at the rate of 5% and 7%, respectively, for a period of 2 years. If the total interest paid by him was Rs. 276, then how much did he borrow at the rate of 7% p.a.?

Answer & Solution
Correct Answer: Option B
$$\eqalign{ & {\text{Let, loan taken at rate of }}7\% = x \cr & {\text{Then, }}\frac{{\left( {2500 - x} \right) \times 5}}{{100}} + \frac{{x \times 7}}{{100}} = \frac{{276}}{2} \cr & 12500 - 5x + 7x = 13800 \cr & 2x = 13800 - 12500 \cr & 2x = 1300 \cr & x = 650\,{\text{Answer}} \cr} $$
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