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Ravi Borrowed Some Money at the Rate of 4% per Annum for the First Three Years, at the Rate of 8% per Annum for the Next Two Years and at the Rate of 9% per Annum for the Period Beyond 5 Yr. If He Pay - Mathematics

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MCQ

Ravi borrowed some money at the rate of 4% per annum for the first three years, at the rate of 8% per annum for the next two years and at the rate of 9% per annum for the period beyond 5 yr. If he pays a total simple interest of ₹19550 at the end of 7 yr, how much money did he borrow?

Options

  • ₹39500

  • ₹42500

  • ₹41900

  • ₹43000

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Solution

₹42500
Explanation :
Let he borrowed ₹ x

∴`(x xx4xx3)/100+(x xx8xx2)/100+(x xx9xx2)/100=19550`

⇒  `12x+16x+18x=1955000`

∴         `x=1955000/46=₹42500`

 

Concept: Simple and Compound Interest
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