The rate of interest for the first 2 year is 3% per annum, for the next 3 years is 8% per annum & for the period beyond 5 year 10% per annum.if a man gets rupees 1500 as simple interest for 6 years, how much money did he deposit?
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he deposited Rs 2500@ 10%
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Given :-
- for first 2 years he gets 3% per annum interest .
- for next 3 years he gets 8% per annum interest .
- for next years he gets 10% per annum interest .
- Total simple interest = Rs.1500 .
- Total time = 6 years.
To Find :-
- How much money did he deposit in the bank ?
Solution :-
Let us assume that, he deposit Rs. P in the bank .
we know that,
SI = (P * R * T)/100
A/q,
→ P at 3% for 2 years + P at 8% for 3 years + P at 10% for 1 years = 1500
→ {(P * 3 * 2)/100} + {(P * 8 * 3)/100} + {(P * 10 * 1)/100} = 1500
→ 6P + 24P + 10P = 1500 * 100
→ 40P = 1500 * 100
→ P = (1500 * 100) / 40
→ P = Rs.37,50 (Ans.)
Hence, He deposit Rs.3750 in the bank.
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