Question

shiwam invest a sum of money in a scheme which offer 6% interest per annum for first 3 year 9% p. a for next 5 year and 13% p. a beyond 8 year. at the end if 11 year he received Rs 81,600 as interest. find the money invested by shiwam​

Answer 1

Answer:

let p be the principal

Amount after 3 years =p+p×0.09=p(1+0.06×3)=p×1.18

Amount after next 5 years=1.18p(1+0.9×5)=1.06×1.45×p

Amount after 11 years =1.18×1.45×(1.13×3)p

=1.18×1.45×1.39×p =81600

p=34285