Home

What is the correct answer?

4

A man 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 three years, and at the rate of 14% p.a. for the period beyond five years. 1£ he pays a total interest of Rs. 11, 400 at the end of nine years how much money did he borrow?

A. 15,000

B. 12,450

C. 12,000

D. 11,780

Correct Answer :

C. 12,000


(x*2*6)/100 + (x*9*3)/100 + (x*14*4)/100 = 11400


 (3x/25 + 27x/100 + 14x / 25) = 11400     
 95x/100 = 11400 ,
 x = (11400*100)/95 = 12000.


Hence , sum borrowed = Rs.12,000.