Question

Arun borrowed a sum of money from Jayant at the rate of 8$\%$ per annum simple interest for the first four years, 10$\%$ per annum for the next 6 years and 12$\%$ per annum for the period beyond 10 yerras. If he pays a total of Rs. 12,160 as interest only at the end of 15 years, how much money did he borrow?

• A. Rs. 12,000
• B. Rs. 10,000
• C. Rs. 8,000
• D. Rs. 9,000

Answer 1

Answer: (C)

Rs. 8,000

Answer 2

Let the sum be Rs. x
Then,
$\frac{x\times8\times4}{100}+\frac{x\times10\times6}{100}+\frac{x\times12\times5}{100}=12160$
⇒ $32x+60x+60x=1216000$
⇒ $152x=1216000$
⇒ $x=8000$
The correct option is (C): Rs. 8,000