Geeta borrowed some money at the rate of 6 p a for the first two years at the rate of 9 p a for the ...........

Quant (SSC) Simple Interest

Geeta 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 the rate of 14% p.a for the period beyond five years. If she pays a total interest of Rs.11400 at the end of nine years, how much did she boorrow?

10000

11000

12000

14000

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Explanation:

Let the sum borrowed be x. then,
(x × 6 × 2 /100) + (x × 9 × 3 /100) + (x × 14 × 4 /100) = 11400
⇒ (3x/25 + 27x/100 + 14x/25) = 11400
⇔ 95x/100 = 11400
⇒ (11400 × 100 /95) ⇒ 12,000
Hence, sum borrowed = Rs. 12,000.