Question

Khan borrows some money at the rate of 6% p.a. for the first two years. He borrows the money at the rate of 9% p.a. for the next three years, and at the rate of 14% per annum for the period beyond five years. If he pays a total interest of Rs. 11400 at the end of nine years, how much money did he borrow?

Answer 1

Answer:

Step-by-step explanation:

Simple interest = PRT/100;

Here P is Principal Amount, R is rate of interest, and T is time;

For first two years he the rate of interest  = 6% pa;

Let the Principal amount is P;

So interest for first two years = P*6*2/100 = 12P/100;

For next three years the rate of interest  = 9%pa;

So total interest for next three years  = P*9*3/100 = 27P/100;

Total no. of year = 9;

So rest of years after five year = 9-5 = 4;

For period beyond five years he borrow money at 14% pa;

So interest for last four years  = P*4*14/100 = 56P/100;

Total interest  = Interest of first two yrs + next three years + period beyond 5 yr to 9 yrs (4 yrs);

11400 = 12P/100 + 27P/100 + 56P/100;

11400 = (12P+27P+56P)/100;

11400*100 = 95P;

P = 11400*100/ 95 = 12000;

He borrow = Rs. 12000

Answer 2

Answer:

LET X BE THE SUM THAT KHAN BORROWS

THEN THE TOTAL SIMPLE INTEREST THAT KHAN PAYS IS THE SUM OF THE INTEREST

WE CAN WRITE FROM THE FORMULA OF THE SIMPLE INTEREST

[X*6*2]/100+[X*9*3]/100+[X*14*4]/100=11400

95X/100=11400

X=12000

SO THE ANSWER IS 12000

Step-by-step explanation: