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NIELIT 2019 Feb Scientist C - Section C: 27

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The rate of interest on a sum of money is $4\%$ per annum for the first $2$ years, $6\%$ per annum for the next $4$ years and $8\%$ per annum for the period beyond $6$ years. If the simple interest accrued by the sum for a total period of $9$ years is $\text₹1,120$, what is the sum?

  1. $\text₹1,500$
  2. $\text₹2,000$
  3. $\text₹2,500$
  4. $\text₹4,000$

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Answer is B

SI = PRT/100

$1120 = \frac{P*4*2}{100} + \frac{P*6*4}{100} + \frac{P*8*3}{100}$

$P=\frac{1120*100}{8+24+24}$ = Rs.2000

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