Raman paid Rs. 11400 as interest after 9 years. He had borrowed some money at rate of 6% for first two years, 9% for next three years and 14% for rest of the period. How much money did he borrow?
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Rs. 10000 Rs. 15000 Rs. 12000 Rs. 12500 |
Rs. 12000 |
Value of interest in % form = 6% x 2 + 9% x 3 + 14% x 4 = 12% + 27% + 56% = 95% The value of 11400 i.e. the interest paid by Raman after 9 years is 95%, so, the value of principle (money which he borrowed) i.e. 100% is as follows: \(\frac{ 11400}{95 }\) x 100 = 12000 Thus, the money which he borrowed amounted Rs. 12000 |