Question

Nikhil borrowed some money at the rate of interest 5 % p.a. for first 2 years, 8 % p.a. for next 5 years and 10 % p.a. for a period beyond 7 years. If he pays total interest of Rs. 8000 at the end of 10 years, then find the money Nikhil borrowed. 1 point

Answer 1

Answer:

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Answer 2

Rs.10000

Step-by-step explanation:

Simple Interest = (P × R × T)/100

Total Simple Interest paid at the end 10 years= S.I.paid in 1st 2 years+S.I.paid in 1st 5 years+ S.I.paid in remaining 3 years

8000 = [(x × 5 × 2)+ (x × 8 × 5)+(x × 10 × 3)]/100

8000 = [(10x)+ (40x) +(30x)]/100

800000=80x

x=Rs.10,000

The money borrowed by Nikhil = Rs. 10,000