Question : R lends some money to S on which S pays INR 17,000 more to R. S lends the same money to T, on which T pays 8.5% more to S. What should be the minimum amount (in INR) that S must borrow so that he does not incur any loss in the process?
Option 1: 2,00,000
Option 2: 2,25,000
Option 3: 1,80,000
Option 4: 1,70,000
Correct Answer: 2,00,000
Solution :
Let the amount of money that $S$ borrows from $R$ as INR $x$.
For no loss, 8.5% of the amount borrowed = 17000
So, 8.5% of $x$ = 17000
⇒ $x = 200000$
Hence, the correct answer is 2,00,000.
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