Question

Q 7. 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 % pa 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.
a Rs 40.000
b Rs. 35.000
C. Rs. 25 000
d. Rs 10.000​

Answer 1

Answer:

Nikhil borrowed some money at the rate ofinterest 5 % p.a. for first 2 years.

8 % p.a. for next 5 years10 % p.a. for a period beyond 7 years.

He pays total interest of Rs. 8000 at the end of 10 yearsTherefore, considering these 4 points, we can form a simple equation to find the money borrowed.

Let the principal/money borrowed be x.

4) 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)

100 100 100

8000 = (10x) + (40x) + (30x)

100 100 100

800000=80x

x=Rs.10,000

The money borrowed by Nikhil = Rs. 10,000