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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% ?

Correct Answer: Rs. 1200

Let Althaf lent Rs. A at 14% per year.Hence, Money lent at 12% = (1500-A);Given, total interest = Rs. 186.{(A x 14x 1)/100} + {[(1500-A) x 12 x 1/100]} = 186;14A/100 + (18000 -12A)/100 = 186;14A + 18000 - 12A = 186x100;2A = 18600-18000;A = 600/2 = Rs. 300.Hence, money lent at 12% = 1500-300 = Rs. 1200.

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