Question

10. Adam borrowed some money at the rate of 6% p.a for the first two years, at the rate of 9% p.a for the next three years, and at the rate of 14% p.a for the period beyond five years. If he pays a total interest of Rs. 11,400 at the end of nine years, how much money did he borrow? ​

Answer 1

Let the sum borrowed be x.

Then, (x*2*6)/100 + (x*9*3)/100 + (x*14*4)/100 = 11400

(3x/25 + 27x/100 + 14x / 25) = 11400

95x/100 = 11400

x = (11400*100)/95 = 12000.

Hence , sum borrowed = Rs.12,000.

Answer 2

Answer:

Let the sum borrowed be x.

Then, (x*2*6)/100 + (x*9*3)/100 + (x*14*4)/100 = 11400

(3x/25 + 27x/100 + 14x / 25) = 11400

95x/100 = 11400

x = (11400*100)/95 = 12000.

Hence , sum borrowed = Rs.12,000.