A milk man borrowed 2,500 from two money lenders. For one loan, he paid 5% p.a. and for the other, he paid 7% p.a.The total interest paid for two years was 275. How much did he borrow at 7% rate?  Pick: A) 600 B) 625 C) 650 D) 675 E) None of these
Let he borrowed at 5% = x   ∴ he borrowed at 7% = (2500 – x)   Now I1 + I2 = 275   x×5×2/100+(2500−x)×7×2/100=275   ⇒ 10x + 14(2500 – x) = 27500   ⇒ 4x = 35000 – 27500 = 7500   ⇒ x = Rs 1875   ∴ Sum borrowed at 7% rate = 2500 – 1875 = 625   Answer 625
<result>B</result>
A milk man borrowed 2,500 from two money lenders. For one loan, he paid 5% p.a. and for the other, he paid 7% p.a.The total interest paid for two years was 275. How much did he borrow at 7% rate?