Ashok 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 11,400/ - at the end of nine years, how much money did he borrow?  Answers
A) 16,060
B) 14,000
C) 18,000
D) 12,000
E) None of these
We have, SI = p×r×t/100   ∴ 11400 = p×6×2/100+p×9×3/100+p×14×4/100   or,12p + 27p + 56p = 11400 × 100   or, 95p = 11400 × 100   ∴ p = 12000   Answer 12,000
<result>D</result>
Ashok 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 11,400/ - at the end of nine years, how much money did he borrow?