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On a certain sum, rate of interest per annum for the first two years is 4%. The rate of interest for next four years is 6% and for the next three years is 8%. If total simple interest earned at the end of 9 years is ₹ 1120, then the sum is:1. ₹22402. ₹16003. ₹18004. ₹2000 |
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Answer» Correct Answer - Option 4 : ₹2000 Given: rate of interest per annum for the first two years is 4%. The rate of interest for next four years is 6% and for the next three years is 8%. Formula used: simple interest = (P × R × T)/100 Calculation: Total simple interest for 9 years = 1120 ⇒ P × [(2 × 4) + (4 × 6) + (3 × 8)]\100 = 1120 ⇒ P × 56/100 = 1120 ⇒ P = 2000 Rs. ∴ The sum is 2000 Rs.
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