Question

Raman paid Rs. 11400 as interest after 9 years. He had borrowed some money at rate of 6% for first two years, 9% for next three years and 14% for rest of the period. How much money did he borrow?

Answer 1

Answer:

Let he borrowed x. @6% int for 2 yrs is 12x/100, @9% int for 3 yrs is 27x/100, @14% int for 4 yrs is 56x/100. so total int is 95x/100.

95x/100 = 11400. So x =11400*100/95=12000. So he borrowed 12000/-

Answer 2

Given:

amount paid by Raman as interest after 5 years = Rs.11400

He borrowed money at the rate of 6% for 2 years

9% for the next 3 years and 14% for the rest period.

To Find:

amount of money he borrowed

Solution:

Let the amount borrowed by Raman be x.

He borrowed x amount at rate of 6% for 2 years which means,

           At 6% interest for 2 years = (6 × 2)x/100

                                                       = 12x/100

At 9% interest for 3 years = (9 × 3)x/100  

                                           = 27x/100

At 14% interest for 4 years = (14 × 4)x/100

                                           = 56x/100

Now, to calculate the total interest we will add all the interest in the following years.

So, Total interest = $\frac{12x+27x+56x}{100}$

                            = 95x/100

Amount paid by Raman as interest = Rs.11400

So,

⇒ 95x/100 = 11400

⇒ x = 11400×100/95

solving the value of x, by multiplying 11400 with 100 and then dividing it by 95, we get

        = 12000

So, the amount borrowed by Raman = Rs.12000/-