Question
Download Solution PDFA sum of money earns a simple interest at 7.25% per annum for the first eight years, at 8.5% for the next six years, and at 6.5% for the final four years. If the total interest earned during these eighteen years was Rs. 35,100, what was the original sum invested (in Rs.)?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Total interest after 18 years = Rs. 35,100
Formula used:
S.I = (P × R × T)/100
Calculation:
Let the principal be ‘P’.
For the first 8 years
S.I = (P × 7.25 × 8)/100
⇒ S.I = 58P/100
For the next 6 years
S.I = (P × 8.5 × 6)/100
⇒ S.I = 51P/100
For the next 4 years
S.I = (P × 6.5 × 4)/100
⇒ S.I = 26P/100
Total Interest in 18 years = Rs. 35,100
(58P/100) + (51P/100) + (26P/100) = 35100
⇒ 135P/100 = 35100
⇒ P = 26000
∴ The amount invested is Rs. 26,000.
Last updated on Jul 7, 2025
-> The SSC CGL Notification 2025 for the Combined Graduate Level Examination has been officially released on the SSC's new portal – www.ssc.gov.in.
-> This year, the Staff Selection Commission (SSC) has announced approximately 14,582 vacancies for various Group B and C posts across government departments.
-> The SSC CGL Tier 1 exam is scheduled to take place from 13th to 30th August 2025.
-> Aspirants should visit ssc.gov.in 2025 regularly for updates and ensure timely submission of the CGL exam form.
-> Candidates can refer to the CGL syllabus for a better understanding of the exam structure and pattern.
-> The CGL Eligibility is a bachelor’s degree in any discipline.
-> Candidates selected through the SSC CGL exam will receive an attractive salary. Learn more about the SSC CGL Salary Structure.
-> Attempt SSC CGL Free English Mock Test and SSC CGL Current Affairs Mock Test.
-> Candidates should also use the SSC CGL previous year papers for a good revision.