QA – Placement Quizzes | Simple Interest | Question 13

The rate of interest for the first 2 yrs is 3% per annum, for the next 3 years is 8% per annum and for the period beyond 5 years 10% per annum. A person deposited some money 6 years back. Now he earns an interest of RS. 1520. What money did he deposit?
(A) 3600
(B) 5000
(C) 3800
(D) 4100


Answer: (C)

Explanation: Say Deposited money is P.
1520 = P X 3 X 2/100 + P X 8 X 3/100 + P X 10 X 1/100
1520 = P . 40/100
P = 1520 X 100/ 40
P = 3800

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