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A worker borrowed some money on simple interest at the rate of 6% p. a. for the first 3 years, at the rate of 9% p. a. for the next 3 years, and at the rate of 14% p. a. for the period beyond 6 years. If he paid a total interest of Rs. 6,490 at the end of 7 years, how much money did he borrow?1. Rs. 12,5002. Rs. 11,0003. Rs. 12,0004. Rs. 10,000 |
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Answer» Correct Answer - Option 2 : Rs. 11,000 Given: A worker borrowed some money on simple interest at the rate of 6% p. a. for the first 3 years, at the rate of 9% p. a. for the next 3 years, and at the rate of 14% p. a. for the period beyond 6 years. If he paid a total interest of Rs.6,490 at the end of 7 years. Concept used: Simple interest Calculation: Let the principal be x = 100 Si at the rate of 6% p. a. for 3 years ⇒ 6 × 3 × x = 18x Si at the rate of 9% p. a. for 3 years ⇒ 9 × 3 × x = 27x Si at the rate of 14% p. a. for 1 year ⇒ 14 × x = 14x As per the question, ⇒ 18x + 27x + 14x = 6490 ⇒ 59x = 6490 ⇒ x = 110 ∴ Principal = Rs.11000 |
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