Question

13. Rakesh borrowed some money at the rate of 4 p.c.p.a. for the first three years, at the rate of 7.5 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 Rs. 18,900 at the end of 7 years, how much money did he borrow? A. Rs. 42,500 B. Rs. 42,000 C. Rs. 40,500 D. Rs. 43,000 E. None of these​

Answer 1

Answer:

Rate of interest (r) = 4% for three years, 7.5% for two years and 9% for two years .

Total Simple interest = Rs. 18,900

Principal = ?

Simple interest = P×T×R/100

Therefore, 18900 = (P×3×4/100) + (P×2×7.5/100) + (P×2×9/100)

Therefore, 18900 = 12P/100 + 14P/100 + 18P/100

Therefore, 18900 = 44P/100

Therefore, 44P = 18900 × 100

Therefore, P = 1890000/44

Therefore, P = Rs. 43,000

Answer - Rakesh borrowed Rs. 43,000 .