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Question
Ravi borrowed some money at the rate of 4% per annum for the first three years, at the rate of 8% per annum for the next two years and at the rate of 9% per annum for the period beyond 5 yr. If he pays a total simple interest of ₹19550 at the end of 7 yr, how much money did he borrow?
Options
₹39500
₹42500
₹41900
₹43000
MCQ
Solution
₹42500
Explanation :
Let he borrowed ₹ x
∴`(x xx4xx3)/100+(x xx8xx2)/100+(x xx9xx2)/100=19550`
⇒ `12x+16x+18x=1955000`
∴ `x=1955000/46=₹42500`
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Simple and Compound Interest (Entrance Exam)
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