A man borrowed Rs.50000 at simple interest with the rate of interest not remaining constant for the entire period. He repaid the entire amount after 8 years. The rate of interest for the first two years is 8% p.a., for the next three years it is 10% p.a., for the next two years it is 5% p.a. and 7% for the last year. How much amount did he repay to clear his loan at the end of the period?
Rs.68500
Rs.81500
Rs.88500
Rs.102600
Rs.101500
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Rate of interest
8% for 2 years = 16 %
10 % for 3 years = 30 %
5 % for 2 years = 10 %
7 % for 1 year = 7 %
Amount = 163% of P