Question
‘M’, ‘N’ and ‘O’, each of them invested Rs.
3500 at the rate of 12% p.a., 30% p.a. and 45% p.a., respectively for 7 years, 4 years and 5 years, respectively. Find the sum of simple interests received by them.Solution
ATQ, Simple interest received by ‘M’ = (3500 × 12 × 7)/100 = Rs. 2940 Simple interest received by ‘N’ = (3500 × 30 × 4)/100 = Rs. 4200 Simple interest received by ‘O’ = (3500 × 45 × 5)/100 = Rs. 7875 Required sum = (3500/100) × {(12 × 7) + (30 × 4) + (45 × 5)} = Rs. 15015
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