1.

Adam borrowed some money at the rate of 6% p.a. for the first two years , at the rate of 9% p.a. for the next three years , and at the rate of 14% p.a. for the period beyond four years. he pays a total interest of Rs. 11, 400 at the end of nine years how much money did he borrow ?

Answer»

Let the sum borrowed be x. Then, 

(x*2*6)/100 + (x*9*3)/100 + (x*14*4)/100 = 11400 

(3x/25 + 27x/100 + 14x / 25) = 11400 

95x/100 = 11400 

x = (11400*100)/95 = 12000. 

Hence , sum borrowed = Rs.12,000. 



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