Question
Adam borrowed some money at the rate of 6% p.a. for the first two years . at the rate of 9% P.a. for the next three years , and at he rate of 14% p.a. for the period beyond five years. If he pays a total interest of Rs. 11,400 at the end of nine years , how much money did he borrow ?
Answer: Option A
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Let the sum borrowed be `x` .then,
`((x xx 6 xx 2)/(100)) + ((x xx 9 xx 3)/(100)) + ((x xx 14 xx 4)/(100))` = 11400
`hArr ((3x)/(25) + (27x)/(100) + (14x)/(25)) ` = 11400
`hArr (95x)/(100) = 11400`
`hArr` x = `((11400 xx 100)/(95))` = 12000
Hence , sum borrowed = Rs. 12,000
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