PracticeProblems

$$ An entrepreneur intending to start a new business knows that the first few years

were most difficult. To lessen the chance of failure a loan plan for startup capital is

proposed in which interest paid during the first two years will be $3\%$ and $6\%$ for the

next two years and $12\%$ for the last two years. How large a loan can be sanctioned

if proposed repayments at the end of years $2,4,$ and $6$ are Rs$.20000,$ Rs$.30000,$

and Rs$.50000$ respectivel