A person borrows a sum of ₹16,000 on simple interest at the beginning of a year. After 4 months, ₹24,000 more is borrowed at a rate of interest double the previous one. At the end of the year, the total interest on both the loans is ₹4800. What is the ratio of the interest on the first loan to the interest on the second loan?
A.1 : 2✓ Correct
B.2 : 3
C.3 : 4
D.4 : 5
Explanation
With R = 10%, interest on first loan = 160R = ₹1600. Interest on second loan = 320R = ₹3200. Ratio = 1600 : 3200 = 1 : 2.
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