Mathematics · Interest
Mr. Mehta borrows Rs. 10,000 each from two different sources. From the first source, he is charged simple interest at 10% per annum for the first 2 years, and compound interest at 10% per annum for the next 2 years. From the second source, he is charged compound interest at 10% per annum for the first 2 years, and simple interest at 10% per annum on the accumulated amount for the next 2 years. What is the total amount repaid by Mr. Mehta to clear both loans after 4 years?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 29040✓
- 2Rs. 29000
- 3Rs. 29050
- 4Rs. 29080
Correct answer
Rs. 29040
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