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Mrs. Garcia borrowed some money at the rate of 4% per annum for the first year, at the rate of 6% pe r annum for the next 2 years, and at the rate of 7.5% per annum for the period beyond 3 years. If he pays a total interest of ₱ 15 750 at the end of 5 years, how much money did he borrow?

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ebrightosagie

Answer: ₱40,909.1

Step-by-step explanation:

Given data:

Rate for first year = 4%

Rate for next two years = 6%

Rate for the next 3 years = 7.5%

Interest paid back after 5years = ₱ 15,750

Solution:

How much did she borrow.

= let the sum borrowed be P

= P * 4 / 100

= 4P/100

= 1P/25.

For the next two years

= P* 6 * 2/100

= 12P/100

= 3P/25

For the next 3years

= P* 7.5*3/100

= 22.5P/100

= 9P/40.

1P/25 + 3P/25 + 9P/40 = 15750

77P/200 = 15750

P = 15750 * 200 / 77

P = 315,0000/77

P = ₱40,909.1

The amount borrowed is ₱40,909.1

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