Anil borrowed some money at simple interest. The rate of interest for the first 3 years was 5% for the next 2 years was 8% and for the next 4 year it was 10%. Beyond this it was 12% per annum. If he paid Rs. 8560, as interest for 12 years. How much money did he borrow?

Q: Anil borrowed some money at simple interest. The rate of interest for the first 3 years was 5% for the next 2 years was 8% and for the next 4 year it was 10%. Beyond this it was 12% per annum. If he paid Rs. 8560, as interest for 12 years. How much …

r1 = 5% r2 = 8% r3 = 10% r4 = 12% t1 = 3 years t2 = 2 years t3 = 4 years t4 = 12 - (3 + 2 + 4) = 3 years ∵ Principal = ( Interest x 100) / ( r1 t1 + r2 t2 + r3 t3 + r4 t4) = (8560 x 100) / (5 x 3 + 8 x 2 + 10 x 4 + 12 x 3) = 856000/107 = Rs. 8000

Rs. 8000
Rs. 6000
Rs. 5000
Rs. 7000

Correct Answer: Rs. 8000

Explanation:

r₁ = 5%
r₂ = 8%
r₃ = 10%
r₄ = 12%
t₁ = 3 years
t₂ = 2 years
t₃ = 4 years
t₄ = 12 - (3 + 2 + 4) = 3 years
∵ Principal = ( Interest x 100) / ( r₁ t₁ + r₂ t₂ + r₃ t₃ + r₄ t₄)
= (8560 x 100) / (5 x 3 + 8 x 2 + 10 x 4 + 12 x 3)
= 856000/107
= Rs. 8000

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