The simple interest on a sum for 11 years is Rs. 42000. The rate of interest for the
The simple interest on a sum for 11 years is Rs. 42000. The rate of interest for the
first 4 years is 3 percent per annum and for the next 7 years is 9 percent per annum.
What is the sum?
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Correct answer: (B) Rs. 56000
Explanation
Total rate over the period = 4 × 3 + 7 × 9 = 75 percent of the sum. So sum = 42000 / 0.75 = Rs. 56000.