Arun borrowed a sum of money from Jayant at the rate of 8% per annum simple interest for the first four years, 10% per annum for the next six years and 12% per annum for the period beyond ten years. If he pays a total of 12,160 as interest only at the end of 15 years, how much money did he borrow?
Choose one:
A) 8000
B) 10,000
C) 12,000
D) 9,000
E) None of these
Let the Principal = P   Then P×8×4/100+P×10×6/100+P×12×5/100   = 12160   ⇒ 152P = 12160 × 100   or 12160×100/152=8000   8000nswer 8000
<result>A</result>
Arun borrowed a sum of money from Jayant at the rate of 8% per annum simple interest for the first four years, 10% per annum for the next six years and 12% per annum for the period beyond ten years. If he pays a total of 12,160 as interest only at the end of 15 years, how much money did he borrow?