Question

A certain sum is lent at 6% p.a for 2 years, 4.5% p.a for the next 4 years, and 12% p.a beyond 6 years. If for a period of 10 years, The simple interest obtained is Rs. 49140 then the sum is?
1. Rs. 60000
2. Rs. 63000
3. Rs. 61000
4. Rs. 65000

Answer 1

Correct Answer - Option 2 : Rs. 63000

GIVEN:
rate for 2 years = 6%

Rate for next 4 years = 4.5%

Rate after 6 years = 12%

T = 10 years

Interest = Rs. 49140

EXPLANATION:

Interest in 2 years = 6 × 2 = 12%

Interest in next 4 years = 4.5 × 4 = 18%

Interest in next 4 years = 12 × 4 = 48%

Total interest = 12 + 18 + 48 = 78%

A.T.Q 

78% of P = 49140

P = (49140/78) × 100 = Rs. 63000

∴ The sum is Rs. 63000