Multiple Choice Questions on Stephen borrowed some money at 6 for the first 4 years 8 for the next 6 years and 11 for the period ........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

Stephen borrowed some money at 6 for the first 4 years 8 for the next 6 years and 11 for the period ...........

Quantitative Aptitude ( CCS) Simple Interest
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    Stephen borrowed some money at 6% for the first 4 years, 8% for the next 6 years and 11% for the period beyond 2 years. If the total interest paid by him at the end of eleven years is Rs 5640, how much money did he borrow?

    Rs 10000

    Incorrect Answer

    Rs 6000

    Correct Answer

    Rs 8000

    Incorrect Answer

    Rs 9000

    Incorrect Answer
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    Explanation:

    Solution:
    Let the sum be P. Then,
    (P*6*4/100) + (P*8*6/100) + (P*11*2/100)=5640.
    24P/100+48P/100+22P/100=5640.
    94P/100=5640==>P=6000.

    By: Pranav Gupta
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