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Simple Interest Practice Test 4
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© examsnet.com
Question : 7
Total: 26
The rate of interest on an amount borrowed by Sakshi was 3% per annum for the first two years, then 5% per annum for the next 3 years and 10% per annum for the next 5 years. Find the amount borrowed by him if the simple interest was Rs 1,278 for 10 years.
Rs 1,950
Rs 800
Rs 1,800
Rs 1,700
Rs 1,000
Validate
Solution:
Let the principal be Rs P.
Then,
S
I
=
(
P
×
3
×
2
100
)
+
(
P
×
5
×
3
100
)
+
(
P
×
10
×
5
100
)
1278
=
6
P
+
15
P
+
50
P
100
1
,
27
,
800
=
71
P
1
,
800
=
P
© examsnet.com
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