The rate of interest for the first 2 years is 5% for the next 3 years is 8% and beyond this. It is 10% per annum. If the simple interest for 8 years is Rs . 1280. What is the principal?

Q: The rate of interest for the first 2 years is 5% for the next 3 years is 8% and beyond this. It is 10% per annum. If the simple interest for 8 years is Rs . 1280. What is the principal?

r1 = 5%, r2 = 8%, r3 = 10%, t1 = 2 years t2 = 3 years, t3 = 8 - (2 + 3) = 3 years ∵ Principal = (Interest x 100) / [(r1 x t1) + (r2 x t2) + (r3 x t3 )] = (1280 x 100) / (5 x 2 + 8 x 3 + 10 x 3) = 128000/(10 + 24 + 30) = 128000/64 =Rs. 2000

Rs. 2500
Rs. 2000
Rs. 3200
Rs. 2440

Correct Answer: Rs. 2000

Explanation:

r₁ = 5%,
r₂ = 8%,
r₃ = 10%,
t₁ = 2 years
t₂ = 3 years,
t₃ = 8 - (2 + 3) = 3 years
∵ Principal = (Interest x 100) / [(r₁ x t₁) + (r₂ x t₂) + (r₃ x t₃ )]
= (1280 x 100) / (5 x 2 + 8 x 3 + 10 x 3)
= 128000/(10 + 24 + 30)
= 128000/64
=Rs. 2000

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