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Raman paid ₹13,300 as simple interest af...

Raman paid ₹13,300 as simple interest after 9 years. He had borrowed some money at the rate of 6% forfirst two years, at 9% for next three years and at 14% for rest of the period. How much money(in ₹) did he borrow ?

A

10, 000

B

14, 000

C

12, 500

D

12, 000

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem, we need to determine the principal amount (P) that Raman borrowed, given that he paid ₹13,300 as simple interest over 9 years with varying interest rates. ### Step-by-Step Solution: 1. **Identify the Interest Rates and Time Periods:** - For the first 2 years, the interest rate is 6%. - For the next 3 years, the interest rate is 9%. - For the remaining 4 years (9 - 2 - 3 = 4), the interest rate is 14%. 2. **Calculate the Simple Interest for Each Period:** - **First 2 years:** \[ \text{SI}_1 = P \times \frac{6}{100} \times 2 = \frac{12P}{100} = 0.12P \] - **Next 3 years:** \[ \text{SI}_2 = P \times \frac{9}{100} \times 3 = \frac{27P}{100} = 0.27P \] - **Last 4 years:** \[ \text{SI}_3 = P \times \frac{14}{100} \times 4 = \frac{56P}{100} = 0.56P \] 3. **Sum the Simple Interests:** \[ \text{Total SI} = \text{SI}_1 + \text{SI}_2 + \text{SI}_3 = 0.12P + 0.27P + 0.56P \] \[ \text{Total SI} = (0.12 + 0.27 + 0.56)P = 0.95P \] 4. **Set Up the Equation:** Since the total simple interest paid is ₹13,300, we can set up the equation: \[ 0.95P = 13,300 \] 5. **Solve for P:** \[ P = \frac{13,300}{0.95} \] \[ P = 14,000 \] ### Conclusion: Raman borrowed ₹14,000.
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