Adam borrowed some money at the rate of 6% p.a. for the first two years, at the rate of 9% p.a. for the next three years, and at the rate of 14% p.a. for the period beyond five years. If he pays a total interest of ` 11400 at the end of nine years, how much money did he borrow ?
Answer
Answer (as printed):
Explanation
Let the sum borrowed be x. Then, $\left(\frac{x \times 6 \times 2}{100}\right)+\left(\frac{x \times 9 \times 3}{100}\right)+\left(\frac{x \times 14 \times 4}{100}\right)=11400$ $\Leftrightarrow \left(\frac{3x}{25}+\frac{27x}{100}+\frac{14x}{25}\right)=11400 \Leftrightarrow \frac{95x}{100}=11400 \Leftrightarrow x=\left(\frac{11400 \times 100}{95}\right)=12000$. Hence, sum borrowed $=₹12,000$.
Explanation as extracted from the printed page; notation may be imperfect.