The rate of Interest on a sum of money is 3% p.a. for the first 3 years, 4% p.a. for the next 4 ...
The rate of Interest on a sum of money is 3% p.a. for the first 3 years, 4% p.a. for the next 4 years, and 5% for the period beyond 7 years. If the S.I, Occurred on the sum for the total period of 8 years is Rs. 540/-, the sum is
Answer/Solution
1,800
Steps/Work
Explanation:
I1 = (P x 3 x 3)/100 = P/11
I2 = (P x 4 x 4)/100 = 4P/25
I3 = (P x 1 x 5)/100 = P/20
P/11+ 4P/25 + P/20 = 540
30P/100 = 540
P = 1800
Answer: Option B
I1 = (P x 3 x 3)/100 = P/11
I2 = (P x 4 x 4)/100 = 4P/25
I3 = (P x 1 x 5)/100 = P/20
P/11+ 4P/25 + P/20 = 540
30P/100 = 540
P = 1800
Answer: Option B