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    Question

    Arjun borrowed Rs. 11,000 at a simple interest rate of 9%

    p.a., and Rs. 7,000 at 10% p.a. The total interest paid after ‘n’ years was Rs. 6,260. Find the value of ‘n’.
    A 3.7 yrs Correct Answer Incorrect Answer
    B 8.5 yrs Correct Answer Incorrect Answer
    C 2.5 yrs Correct Answer Incorrect Answer
    D 5.9 yrs Correct Answer Incorrect Answer

    Solution

    ATQ,

    11000 × (9/100) × n + 7000 × (10/100) × n = 6260

    Or, 990n + 700n = 6260

    So, n = (6260/1690) = 3.7 years

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