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    Question

    A person borrowed Rs. 9,300 at 11% p.a. and Rs. 6,700 at

    13% p.a. simple interest. If the total interest paid after ‘n’ years is Rs. 5,486, find the value of ‘n’.
    A 3.7 yrs Correct Answer Incorrect Answer
    B 8.5 yrs Correct Answer Incorrect Answer
    C 2.9 yrs Correct Answer Incorrect Answer
    D 5.9 yrs Correct Answer Incorrect Answer

    Solution

    ATQ,

    9300 × (11/100) × n + 6700 × (13/100) × n = 5486

    Or, 1023n + 871n = 5486

    So, n = (5486/1894) = 2.9 years

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