Question
Amish invested 2500 Rupees in each of these schemes,
offering simple interest of 12% per annum. 16% P.A. and 15% PA. respectively. Find the total interest received from given three schemes together after eight years.Solution
amount received from this scheme which offer Interest at the rate of 12% per annum = (2500*0.12*8)+2500 = 4900 Amount received from the schemes, which offers interest at the rate of 16% per annum = (2500 *0.16 *8)+2500 = 5700 Amount received from this scheme, which offers interest at the rate of 15% per annum = ( 2500*0.15*8) +2500 = 5500 Therefore, total interest received = (4900+5700+5500)-2500*3 = Rs. 8600
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