Anil borrowed some money at simple interest. The rate of interest for the first 3 years was 5% for the next 2 years was 8% and for the next 4 years it was 10%. Beyond this it was 12% per annum. If he paid Tk. 8560, as interest for 12 years, how much money (in Tk.) did he borrow?

A 5,000

B 6,000

C 7,000

D 8,000

Solution

Correct Answer: Option D

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