Question
A borrows ₹89,500 for 3 years at 7% p.a. simple
interest. B borrows the same amount at simple interest of 9% for the first year, 8% for the second year, and 7% for the third year. What is the total simple interest (in ₹) paid by A and B?Solution
Given: Principal = ₹89,500 Time = 3 years Interest by A (7% for 3 years): SI = (P × R × T) ÷ 100 = (89500 × 7 × 3) ÷ 100 = ₹18,795 Interest by B (different rates each year): Year 1: 89500 × 9% = ₹8055 Year 2: 89500 × 8% = ₹7160 Year 3: 89500 × 7% = ₹6265 Total SI by B = 8055 + 7160 + 6265 = ₹21,480 Total SI by A and B = 18795 + 21480 = ₹40,275
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