A borrowed a sum of money from B at the rate of 8% per annum on simple…
2025
A borrowed a sum of money from B at the rate of 8% per annum on simple interest for the first four years, 10% per annum for the next six years and 12% per annum for the period beyond ten years. If he pays a total of Rs. 12160 as interest only at the end of 15 years, then how much money did A borrowed?
- A.
Rs. 8000
- B.
Rs. 10000
- C.
Rs. 12000
- D.
Rs. 9000
- E.
Rs. 6000
Attempted by 3 students.
Show answer & explanation
Correct answer: A
Total interest percentage over 15 years = 8 x 4 + 10 x 6 + 12 x 5 = 152%.
If principal is P, then 1.52P = 12160.
P = 8000.