Exercise : Simple Interest - General Questions
✔ Simple Interest -
General Questions
11.
The rate of SI for the first 2 years is 3%, for the next 3 years is 8%, and for the period beyond 5 years is 10%. If a man gets $1,520 as SI for 6 years, find the sum.
View Answer
Answer: Option B
Explanation:
Explanation:
Total interest percentage = \((2 \times 3) + (3 \times 8) + (1 \times 10) = 6 + 24 + 10 = 40\%\). \(0.4P = 1520 \implies P = 3,800\).