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SSC Selection Post 2020 PYQ — Question 67

SSC Selection Post - Matriculation Level 2020 - 9 Nov 2020 - Shift 1 • Quantitative Aptitude • Q67

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A worker borrowed some money on simple interest at the rate of 6% p.a. for the first 3 years, at the rate of 9% p.a. for the next 3 years, and at the rate of 14% p.a. for the period beyond 6 years. If he paid a total interest of ₹6,490 at the end of 7 years, how much money did he borrow?

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Correct answer: B

Explanation

The correct answer is option 2 i.e. ₹11,000.

Let the principal = P

Total SI = P×6×3100+P×9×3100+P×14×1100\frac{P \times 6 \times 3}{100} + \frac{P \times 9 \times 3}{100} + \frac{P \times 14 \times 1}{100}

= 18P+27P+14P100=59P100\frac{18P + 27P + 14P}{100} = \frac{59P}{100}

59P100=6490\frac{59P}{100} = 6490

P = 6490×10059=₹11,000\frac{6490 \times 100}{59} = ₹11{,}000