Question
βMβ, βNβ and βOβ, 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 βMβ = (3500 Γ 12 Γ 7)/100 = Rs. 2940 Simple interest received by βNβ = (3500 Γ 30 Γ 4)/100 = Rs. 4200 Simple interest received by βOβ = (3500 Γ 45 Γ 5)/100 = Rs. 7875 Required sum = (3500/100) Γ {(12 Γ 7) + (30 Γ 4) + (45 Γ 5)} = Rs. 15015
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