Question

The rate of interest for the first 2 years is 3% per annum, for the next 3 years is 8% per annum, and for the period beyond 5 years is 10% per annum. If Rohan withdraws a total amount of Rs. 5000 after 7 years, find the sum(approx.) he deposited?

1. Rs. 3333
2. Rs. 4320
3. Rs. 2380
4. Rs. 3080
5. None of these

Answer 1

Correct Answer - Option 1 : Rs. 3333

Given,

The rate of interest for the first 2 years is 3% per annum

The next 3 years is 8% per annum

The period beyond 5 years is 10% per annum

Formula used: 

S.I. = PTR ÷ 100

Calculations:  

⇒ Let principal be Rs. P

⇒ S.I. = S.I for 1 & 2 year + S.I. for 3, 4, & 5 year + S.I. for 6, & 7 year

⇒ S.I. = (P × R1 × T1) ÷ 100 + (P × R2 × T2) ÷ 100 + (P × R3 × T3) ÷ 100

⇒ P + (P(2 × 3 + 3 × 8 + 2 × 10) ÷ 100) = 5000

⇒ 3P/2 = 5000

⇒ P = Rs 10000/3 = Rs 3333.33 ≈ Rs. 3333

∴ The required answer is Rs. 3333