Preethi
Preethi
9 years ago

Natesh borrowed some money at rate 6% p.a. for the first 3 years, 9% p.a. for the next five years and 13% p.a. beyond 8 years.The above are all simple interest rates.If Natesh pays a total of Rs.8,160 as an interest after 11 years,how much money did he borrow?

A. Rs.8,000

B. Rs.10,000

C. Rs.12,000

D. Rs.14,000

Solution(By Examveda Team)

Let he borrowed principal P.

Interest for first 3 years = PTR /100 = P * 3*6/100 = 18P/100.

Interest for next 5 years = P*5*9/100 = 45P/100

Intrest for next 3 years = P*3*13/100 = 39P/100

Total Interest = 8160

(18P/100) + (45P/100) + (39P/100) = 8160

18P +45P + 39P = 816000
P = Rs. 8000.
 


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