Question 85

Rohan borrowed a certain sum of money at simple interest. Rate of interest was 3% per annum for first 3 years, 4% per annum for next 5 years and 6% per annum for next 7 years. If he paid Rs 2059 as interest, then what is the sum borrowed (in Rs)?

Solution

Let sum borrowed = Rs. $$100x$$

Rate of interest for first 3 years = 3% , for next 5 years = 4% and for next 7 years = 6%

=> Simple interest = $$\frac{P\times r\times t}{100}$$

=> $$\frac{100x\times3\times3}{100}+\frac{100x\times4\times5}{100}+\frac{100x\times6\times7}{100}=2059$$

=> $$9x+20x+42x=2059$$

=> $$x=\frac{2059}{71}=29$$

$$\therefore$$ Sum = $$100\times29=Rs.$$ $$2900$$

=> Ans - (C)

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