Simple Interest Ques 11
Question-
Ravi borrowed some money at the rate of 4 p.c.p.a. for the first three years, at the rate of 8 p.c.p.a. for the next two years and at the rate of 9 p.c.p.a. for the period beyond 5 years. If he pays a total simple interest of ₹ 19,550 at the end of 7 years, how much money did he borrow?
(1) ₹ 39,500
(2) ₹ 42,500
(3) ₹ 41,900
(4) ₹ 43,000
(5) None of these
(Punjab & Sind Bank PO Exam. 23.01.2011)
Show Answer
Correct Answer: (2)
Solution: (2)
If the amount borrowed be $ \text{₹} x$, then
$ 19550=\frac{x \times 4 \times 3}{100}+\frac{x \times 8 \times 2}{100} \times \frac{x \times 9 \times 2}{100} $
$\Rightarrow \frac{12 x}{100}+\frac{16 x}{100}+\frac{18 x}{100}=19550$
$\Rightarrow 12 x+16 x+18 x$ $=1955000$
$\Rightarrow 46 x=1955000$
$\Rightarrow x=\frac{1955000}{46}$ $= \text{₹} 42500$
BETA
