Question 11

The simple interest on a sum for 5 years is Rs 16800. The rate of interest for the first 3 years is 8% per annum and for the next 2 years is 12% per annum. What is the value (in Rs) of sum?

Solution

Let the sum = Rs. $$100x$$

Rate of interest for first 3 years = 8% and for next 2 years = 12%

=> Simple interest = $$\frac{P\times R\times T}{100}$$

=> $$(\frac{100x\times 8\times3}{100})+(\frac{100x\times12\times2}{100})=16800$$

=> $$24x+24x=16800$$

=> $$x=\frac{16800}{48}=350$$

$$\therefore$$ Sum = $$100\times350=Rs.$$ $$35,000$$

=> Ans - (D)

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