Time Value of Money

© examsnet.com

Question : 4 of 99

Marks: +1, -0

The rate of interest on a sum of money is

8\%

p.a. for the first year,

6\%

p.a. for the next 4 years and

4\%

p.a. for the period beyond 5 years. If the simple interest accursed by the sum for a total period of 11 years is

\text{Rs. }1120

what is the sum?

$\text{Rs. }2000$
$\text{Rs. } 3000$
$\text{Rs.} 4000$
$\text{Rs.} 5000$

Go to Question:

Advertisements