📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    A certain sum is lent at 4%.p.a. for 3 years, 8% p.a.

    for the next 4 years, and 12% pa, beyond 7 years. If for a period of 11 years the simple interest obtained is ₹27,600, then the sum is (in ₹):
    A 25,000 Correct Answer Incorrect Answer
    B 32,000 Correct Answer Incorrect Answer
    C 27,000 Correct Answer Incorrect Answer
    D 30,000 Correct Answer Incorrect Answer

    Solution

    Let the sum lent be Rs. x. Simple Interest = Rs. 27,600 Now, S.I. = (P × R × T)/100 For 11 years, 27,600 = (x × 4 × 3)/100 + (x × 8 × 4)/100 + (x × 12 × (11 – 7))/100 ⇒ 27,600 = x × (12 + 32 + 48)/100 ⇒ 27,600 = x ×( 92/100) ⇒ x = Rs. (27,600 × 100)/92 ⇒ x = Rs. 30,000

    Practice Next
    More Simple and compound interest Questions
    ask-question