Simple Interest Practice Test 2

Question : 35 of 40

Marks: +1, -0

A person borrowed some money at the rate of 6% p.a. for the first two years, at the rate of 9% p.a. for the next 3 years, and at the rate of 14% p.a. for the period beyond 5 years. If he pays a total interest of Rs. 11,400 at the end of 9 years, how much money did he borrow?

Rs. 8000
Rs. 10,000
Rs. 12,000
Rs. 16,000

Validate

Solution:

Let he borrowed Rs. x; then

{x×6×2}/100

+{x×9×3}/100

+{x×14×4}/100=11400

⇒19/20x=11400

∴x=12000

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