2022 · Q33
A person borrowed ₹9,000 at 7%, ₹12,000 at 8% and ₹15,000 at 9% simple interest per annum. He had to pay ₹50,700 at the end of n years. What is the value of n?
Elementary MathematicsSimple and Compound Interest
- A3
- B4
- C5
- D6
Explanation
Annual simple interest = 9000x0.07+12000x0.08+15000x0.09 = 2940. Then 36000+2940n = 50700 gives n = 5. Hence the keyed option is C.