Question

Q. Nitin borrowed some money at the rate of 6% p.a for the first three years, 9% p.a for the next five years and 13% p.a for the period beyond eight years. If the total interest paid by him at the end of eleven years is Rs 8160, how much money did he borrow?

• A. Rs 8000
• B. Rs 10000
• C. Rs 12000
• D. Data inadequate
• E. none of these
  

Answer 1

The correct option is A Rs 8000

For x money borrowed
Total interest paid = 8160 = i1 +i2 +i3
$8160=x\times \frac{6}{100}\times 3+x\times \frac{9}{100}\times 5+x\times \frac{13}{100}\times 3816000=18x+45x+39xx=\frac{816000}{102}x=8000$