Question

Ex. 5. Adam borrowed some money at the rate of 6% p.a. for the first two ye
the rate of 9% p.a. for the next three years, and at the rate of 14% p.a. for the
beyond five years. If he pays a total interest of Rs. 11, 400 at the end of nine years
much money did he borrow ?

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Answer 1

Rs. 12,000 was the amount of money borrowed

Explanation:

Let the amount of money borrowed to be x

So,

Rate of interest for the first two years = 6%

Rate of interest for the next three years = 9%

Rate of interest for the next four years = 14%

Using the formulae = P * R * T/100

It gives total interest

(x*2*6)/100 + (x*9*3)/100 + (x*14*4)/100 = Rs. 11400  

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

95x/100 =  Rs. 11400  

x = (11400*100)/95

= Rs. 12000.  

Hence, the sum of money borrowed = Rs.12,000.

Learn more: find the principle

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