The rate of interest for the first 2 years is | vedclass

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(D) Let the principal amount deposited be $P = Rs. 100$.Interest for the first $2$ years at $3 \%$ per annum: $I_1 = \frac{100 	imes 3 	imes 2}{100}

Vedclass · Accepted Answer

$3800$

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(D) Let the principal amount deposited be $P = Rs. 100$.Interest for the first $2$ years at $3 \%$ per annum: $I_1 = \frac{100 	imes 3 	imes 2}{100} = Rs. 6$.Interest for the next $3$ years at $8 \%$ per annum: $I_2 = \frac{100 	imes 8 	imes 3}{100} = Rs. 24$.Interest for the remaining $1$ year (since total time is $6$ years,$6 - 2 - 3 = 1$ year) at $10 \%$ per annum: $I_3 = \frac{100 	imes 10 	imes 1}{100} = Rs. 10$.Total interest for $6$ years $= 6 + 24 + 10 = Rs. 40$.If the interest is $Rs. 40$,the principal is $Rs. 100$.If the interest is $Rs. 1520$,the principal $= \frac{100}{40} 	imes 1520 = 2.5 	imes 1520 = Rs. 3800$.

The rate of interest for the first $2$ years is $3 \%$ per annum,for the next $3$ years is $8 \%$ per annum,and for the period beyond $5$ years is $10 \%$ per annum. If a man gets $Rs. 1520$ as simple interest for $6$ years,how much money (in $Rs.$) did he deposit?

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