A man borrowed some money at the rate of 6% per annum for the first two years, at the rate of 9% per annum for the next three years and at the rate of 14% per annum for the period beyond of next five years. If he pays a total interest of Rs.11400 at the end of 9 years how much money did he borrow? |
Rs.16000 Rs.14000 Rs.18000 Rs.12000 |
Rs.12000 |
Total rate = (6% x 2) + (9% x 3) + (14% x 4) = 95% Principal = \(\frac{11400}{95}\) x 100 = ₨. 12000 |