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?

  • Option 1)

    Rs.68500

  • Option 2)

    Rs.81500

  • Option 3)

    Rs.88500

  • Option 4)

    Rs.102600

  • Option 5)

    Rs.101500

Answers (1)

\small P = 50,000

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

\small 50000\times \frac{163}{100}

\small 500\times 163

\small = 81500 \: Rs.

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