Question
Nitin borrowed some money at the rate of 6 % p.a. for the first three years, 9% p.a. for the next five years and 13% p.a. for the period beyond eight years. If the total interest paid by him at the end of eleven years is Rs. 8160, how much money did he borrow?
Answer: Option A
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Let the sum be Rs. a Then,
(a x 6 x 3 ) + (a x 9 x 5) + (a x 13 x 3) = 8160
100 100 100
88a + 45a + 39a = (8160 x 100)
102a = 816000
a=8000.
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