Question
Mathematics Question on SI & CI
The rate of simple interest on a sum ofmoney is 6 per cent per annum for the first 3 years, 8 per cent per annum for the next 5 years and 10 per cent per annum for the period beyond 8 years. If the simple interest accrued by the sum for a total period of 10 years is Rs. 1,560, what is the sum?
A
Rs. 1,500
B
Rs. 3,000
C
Rs. 2,000
D
Data inadequate
Answer
Rs. 2,000
Explanation
Solution
The correct option is (C): Rs. 2,000