Akhil borrowed a certain sum of money at the rate of 6%, 9% and 14% for a period of firsttwo years, next three years and beyond the period of five years respectively. If at the end of nineyears, he paid Rs. 8550 as interest, then find the sum of money he had borrowed.
A)rs. 9,000
B)rs.14,000
C)rs.15,000
D)rs.18,000

Question

Quizplus · Accepted Answer

Let the sum borrowed be Rs. x.Interest for first two years = (x * 6 * 2)/100 = Rs. 12x/100Interest for next three years = (x * 9 * 3)/100 = Rs. 27x/100Interest for beyond five years = (x * 14 * 4)/100 = Rs. 56x/100Total interest = Rs. 8550Therefore, (12x/100) + (27x/100) + (56x/100) = 8550=> 95x/100 = 8550=> x = (8550 * 100)/95=> x = Rs. 9000

Akhil Borrowed a Certain Sum of Money at the Rate