Bissoy.com
Doctors Medicines MCQs Q&A

A borrower pays 18% interest per year on the first Tk. 600 he borrows and 17% per year on the part of the loan in excess of Tk. 6000. How much interests will the borrower pay on a loan of Tk. 6000 for one year?

A borrower pays 18% interest per year on the first Tk. 600 he borrows and 17% per year on the part of the loan in excess of Tk. 6000. How much interests will the borrower pay on a loan of Tk. 6000 for one year? Correct Answer 1026

Interest, I = P n r Interest for first 600 TK = 600 x 1 x 18/100 = 108 TK Money borrowed above 600 TK = 6000 - 600 = 5400 TK Interest on 5400 TK = 5400 x 1 x 17/100 = 918 TK Total interest = 108 + 918 = 1026 TK

Related Questions

Deepak lent Rs. 14000 at simple Interest to a borrower. At the end of 3 years, he again lent Rs. 6000. The borrower settled that amount after paying Rs.9230 as interest after 8 years from the time he borrows Rs. 14000. What is the rate of interest?
Rajesh borrows money at 4% per annum and pays the interest at the end of the year? He borrows it at 6% per annum compound interest compounded half yearly and receives the interest at the end of the year. In this way, he gains Rs. 104.50, a year. What is the amount of money being borrowed?
A money lender borrows money at 4% per annum and pays the interest at the end of the year. He lends it at 6% per annum compound interest compounded half yearly and receives the interest at the end of the year. In this way, he gains Rs. 104.50, a year. The amount of money be borrows, is ?
Althaf borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12% ?
Asif borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12%
A man borrows a total sum of Rs. 5 lakhs from bank A and bank B. To bank A, he pays 8% and to bank B, he pays 10% per annum simple interest. If he pays Rs. 183000 of total interest in 4 years to both the banks, then how much did he borrow from bank A?
Three friends Shimoli, Pooja, and Vidhi decide to pay their travel fare during a trip in the ratio of 2 : 3 : 4. Shimoli pays the first day’s fare which amounts to Rs. 500, Pooja pays the second day’s fare which amounts to Rs. 600 and Vidhi pays the third day’s fare which amounts to Rs. 700. When they settle their accounts, how much money does Vidhi has to pay to Shimoli?
It is the practice of almost all banks in the Philippines that when they grant a loan, the interest for one year is automatically deducted from the principal amount upon release of money to a borrower. Let us therefore assume that you applied for a loan with a bank and the P80,000 was approved at an interest rate of 14% of which P11,200 was deducted and you were given a check of P68,800. Since you have to pay the amount of P80,000 one year after, what then will be the effective interest rate?
Amit borrows a sum of ₹ 8,000 at 10% p.a. compound interest for 4 years. He repays ₹ 2,800 at the end of the first year and ₹ 2,600 at the end of the second year. To clear the loan, how much should he pay after 4 years, interest being compounded yearly?
Ram purchase recurring deposit of Rs.2 lakh from post office which pays 8% compound interest annually, Shayam purchase fix deposit of Rs.3 lakh from bank which pays 6% compound interest annually, After 2 years they started business with respected amount they get (including interests), After one year of business they get profit of Rs.47,530 in the respected ratio of amount (including interests), Find profit of Ram in business.