Mathematics · Simple Interest
A bank pays Simple Interest at 4% per annum for the first 2 years, then at 5% per annum for the next 3 years, and 6% per annum for the period beyond 5 years. If a man gets ₹2,050 as interest at the end of 8 years, what was his initial investment?
- 1₹6,200
- 2₹5,000✓
- 3₹4,000
- 4₹4,500
Correct answer
₹5,000
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