What will be the sum on which the rate of interest is 4% per annum for the first 2 yr, 6% per annum for the next 4 yr and 8% per annum for the period

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What will be the sum on which the rate of interest is 4% per annum for the first 2 yr, 6% per annum for the next 4 yr and 8% per annum for the period beyond 6 yr. if the simple interest accrued by the sum for a total period of 9 yr is Rs. 4480?
1. 7200
2. 12400
3. 9220
4. 11800
5. 8000

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Correct Answer - Option 5 : 8000

GIVEN:

For the first 2 years, r = 4% per annum, t = 2 years

next 4 years, r = 6% per annum, t = 4 years

next 3 years, r = 8% per annum, t = 3 years

FORMULAE USED:

SI = (p × r × t)/100

CALCULATION:

the simple interest for the first 2 years = (p × 4 × 2)/100 = 2p/25

the simple interest for the next 4 years = (p × 6 × 4)/100 = 6p/25

And then, for the

the simple interest for the next 3 years = (p × 8 × 3)/100 = 6p/25

⇒ Total interest = (2p/25) + (6p/25) + (6p/25) = 14p/25

So, 14p/25 = 4480

⇒ p = Rs. 8000

Hence, the principal amount is Rs. 8000