Question

Wasim borrowed some money at $6\%$ p.a simple interest for the first four years, $8\%$ p.a. for the next three years and $10\%$ p.a for a period beyond $7$ years. At the end of $12$ years, he earned Rs$5880$ as simple interest. How much money did he borrow?

• A. Rs. $6000$
• B. Rs. $8000$
• C. Rs. $9000$
• D. Rs. $10000$

Answer 1

Answer: (A)

Rs. $6000$

Let Wasim borrowed $Rs.x$

$\frac{x\times 6\times 4}{100}+\frac{x\times 8\times 3}{100}+\frac{x\times 10\times 5}{100}=5880$

$\frac{24x}{100}+\frac{24x}{100}+\frac{50x}{100}=5880$

$\frac{98x}{100}=5880$

$\frac{x}{100}=60$

$\therefore$ $x=Rs.6000$