Nitin borrowed some money at the rate of 6% p.a. for the first three years, 9% p.a. for the next five years and 13% p.a. for the period beyond eight years. If the total interest paid by him at the end of eleven years is Rs. 8160, how much money did he borrow?
Answer: A
Let the sum be Rs. x. Then,
[(x * 6 * 3)/100] + [(x * 9 * 5)/100] + [(x * 13 * 3)/100] = 8160
18x + 45x + 39x = (8160 * 100)
102x = 816000 => x = 8000.