Question : Ravi borrowed some money at the rate of $5 \%$ per annum for the first three years, $8 \%$ per annum for the next two years and $10 \%$ per annum for the period beyond 2 years. If he paid a total Simple Interest of Rs. $ 12,750$ at the end of 7 years, then how much money did he borrow?
Option 1: Rs. 25,000
Option 2: Rs. 26,000
Option 3: Rs. 27,000
Option 4: Rs. 24,000
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Correct Answer: Rs. 25,000
Solution : Ravi borrowed money for the first three years = $5 \%$ per annum For next two years = $8 \%$ per annum Period beyond 5 years = $10 \%$ per annum Total years = 7 Let the money he borrow be Rs. $x$. We know, Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ So, $\frac{x\times{5}\times{3}}{100}+ \frac{x\times{8}\times{2}}{100}+ \frac{x\times{10}\times{2}}{100} = 12,750$ ⇒ $15x+16x+20x = 1275000$ $\therefore x = {\text{Rs. 25000}}$ Hence, the correct answer is Rs. 25,000.
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Question : A man borrowed a certain sum of money at the rate of 10% per annum simple interest for the first three years and 15% per annum simple interest for the period beyond three years. If he pays a total interest of INR 2,884.50 at the end of 7 years, then the sum of money (in INR) that he borrowed is:
Option 1: 3,860
Option 2: 3,090
Option 3: 4,550
Option 4: 3,205
Question : A person borrows Rs. 20000 at the rate of 6% per annum on simple interest for 3 years. He immediately lends it to another person at the rate of 8.5% per annum on simple interest for 3 years. What is the value of gain per year?
Option 1: Rs. 1500
Option 2: Rs. 500
Option 3: Rs. 800
Option 4: Rs. 200
Question : The amount of Rs. 25,000 in 2 years at annual compound interest, if the rates for the successive years are 4% and 5% per annum respectively is:
Option 1: Rs. 30,000
Option 2: Rs. 26,800
Option 3: Rs. 27,300
Option 4: Rs. 28,500
Question : At a certain sum of money with the interest rate of 6% per annum for 4 years, the simple interest is Rs. 4500. Find the compound interest (compounding annually) of 2 years at the same sum when the rate of interest is 4% per annum.
Option 1: Rs. 1,530
Option 2: Rs. 1,430
Option 3: Rs. 1,830
Option 4: Rs. 1,560
Question : A sum of Rs. 2,000 becomes Rs. 3,120 in two years at a certain rate of simple interest. What is the rate of interest per annum?
Option 1: 34% per annum
Option 2: 33% per annum
Option 3: 30% per annum
Option 4: 28% per annum
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