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

The Correct Option is C

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