Question:
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?
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?
Updated On: Oct 9, 2024
- Rs. 1,500
- Rs. 3,000
- Rs. 2,000
- Data inadequate
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The Correct Option is C
Solution and Explanation
The correct option is (C): Rs. 2,000
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