Neeta borrowed some money at the rate of 6% per annum for the first 3 yr. at the rate of 9% per annum for the next 5 yr and a the rate of 13% per annum for the period beyond 8 yr. If she pays a total interest of ₹ 8160 at the and of 11 yr how much money did she borrow?
Correct Answer: ₹ 8000
Explanation:
Let the sum borrowed = P
Then, according to the question,
[(P x 6 x 3)/100] + [(P x 9 x 5)/100] + [(P x 13 x 3)/100] = 8160
⇒ (18P + 45P +39P) / 100 = 8160
⇒ 102P/100 = 8160
⇒ P = (8160 x 100)/102
∴ P = ₹ 8000
