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Sapna borrowed a certain sum of money from Kavita under the following repayment scheme based on simple interest. 8% p.a. for the initial 2 years, 9.5% p.a. for the next 4 years, 11% p.a. for the next 2 years, 12% p.a. after the first 8 years. Find the amount which a sum of Rs. 9000 taken for 12 years becomes at the end of 12 years?

1:

Rs. 20160

2:

Rs. 22350

3:

Rs. 23470

4:

Rs. 24567

5:

None of these

Solution:
Chapter Name: Simple Interest


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