Q.8) Harvey borrowed some money at the
tu
of 3% p.a. for the first 4 year, at the Rs.80
4% p.a. for the next 3 year and at then what is
the rate of 9% p.a. for the period beyond 7
year. If he pays a total simple interest of Rs.
21000 at the end of 9 year, how much
money did he borrow?
Step-by-step explanation:
Let he borrowed principal P
Interest for first 3 years =
100
PTR
=
100
P×3×6
=
100
18P
Interest for next 5 years=
100
P×5×9
=
100
45P
Interest for next 3 years =
100
P×3×13
=
100
39P
Total Interest =8160
⇒
100
18P
+
100
45P
+
100
39P
=8160
⇒18P+45P+39P=816000
⇒102P=816000
⇒P= Rs. 8000