Multiple Choice Questions on A sum of money invested for 13 years yields Rs 2500 as simple interest The interest rate being charg........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

A sum of money invested for 13 years yields Rs 2500 as simple interest The interest rate being charg...........

Quantitative Aptitude ( CCS) Simple Interest
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    A sum of money invested for 13 years yields Rs 2500 as simple interest. The interest rate being charged at 4% for first 3 years, 5% for next 4 years and 8% beyond 7 years. What is the principal invested? 

    Rs 3,525

    Incorrect Answer

    Rs 3,475

    Incorrect Answer

    Rs 3,125

    Correct Answer

    Rs 2,125

    Incorrect Answer
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    Explanation:

    Beyond 7 years is after 7 years for remaining (13-7) = 6 years
    P = 2500*100/[r1t1+r2t2+r3t3] P = 2500*100/[4*3 + 5*4 + 8*6] P=3125

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