SSC CGL Model Paper 18

Question : 60 of 100

Marks: +1, -0

Rohan borrowed a certain sum of money at simple interest. Rate of interest was 3% per annum for first 3 years, 4% per annum for next 5 years and 6% per annum for next 7 years. If he paid ₹ 2059 as interest, then what is the sum borrowed (in ₹)?

2400
2500
2900
3100

Validate

Solution:

Let the sum borrowed = ₹ P

2059 = {P×3 × 3}/100+{P×5×4}/100

+{P×6×7}/100

⇒

9P + 20P + 42P = 205900

⇒

71P =205900

∴

P = \₹2900

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