The rate of simple interest on an amount of money is 6% p.a. for first two years, 9% p.a. for next five
years and 13% p.a. for the period beyond seven years. If the total interest on the sum at the end of ten
years is 7680, what is the sum?
(a) 7000
(b) 8000
(c) 9000
(d) 8500
PLZZ... don't give rubbish answer..
Answers
The sum of money is Rs. 8000.
Step-by-step explanation:
The formula required for solving the given question:
Simple Interest = [P x R x T] / 100 ….. (i)
Let the sum of money be denoted as “P”.
We are given that,
Total Time period = 10 years
The sum of money is given on simple interest as follows:
6% p.a. for the first 2 years
9% p.a. for the next 5 years
13% p.a. for the period beyond 7 years i.e., for (10 - 7) = 3 years
The total interest on the sum of money at the end of 10 years = Rs. 7680
Now, according to the question and based on the formula in (i), we get
7680 = [(P*6*2)/100] + [(P*9*4)/100] + [(P*13*3)/100]
⇒ 7680 = [0.12P] + [0.45P] + [0.39P]
⇒ 7680 = 0.96P
⇒ P = 7680/0.96
⇒ P = Rs. 8000 ← the sum of money
ANSWER:
₹8000.
by.....
Sushant
singh
rajput
