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# I needed Rs. 1,20,000 to buy a Plasma TV and hence I borrowed Rs. 75,0

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Senior Manager
Joined: 29 Nov 2018
Posts: 263
Concentration: Marketing, Strategy
I needed Rs. 1,20,000 to buy a Plasma TV and hence I borrowed Rs. 75,0  [#permalink]

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17 Jul 2019, 04:11
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I needed Rs. 1,20,000 to buy a Plasma TV and hence I borrowed Rs. 75,000 from Vani and the rest from Vivek. Vani and Vivek charge me a rate of interest such that the interest amount payable to both of them is the same. If in all I re-pay them a total of Rs. 1,50,000 at the end of 2 years, what is the rate of interest charged per annum by the two?

1. 10%,20%
2. 12.5%, 20%
3. 10%,16.66%
4. 12.5%, 16.66%
5. 16.66, 20%
Manager
Joined: 08 Sep 2008
Posts: 140
Location: India
Concentration: Operations, General Management
Schools: ISB '20
GPA: 3.8
WE: Operations (Transportation)
Re: I needed Rs. 1,20,000 to buy a Plasma TV and hence I borrowed Rs. 75,0  [#permalink]

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17 Jul 2019, 04:35

For ease take total amount as 120.
Vani: 75
So vivek: 45.

Interest paid total 150-120= 30 for two years.
Each year= 15.
Interest amount is same so 7.5 paid to each person per year.

So vani amount is 75 so 7.5 is 10%.
Vivek amount is 45 so 7.5 is about 16.66%

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Re: I needed Rs. 1,20,000 to buy a Plasma TV and hence I borrowed Rs. 75,0   [#permalink] 17 Jul 2019, 04:35
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# I needed Rs. 1,20,000 to buy a Plasma TV and hence I borrowed Rs. 75,0

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