Question
‘P’, ‘Q’ and ‘R’, each of them invested Rs.
2000 at the rate of 16% p.a., 24% p.a. and 36% p.a., respectively for 8 years, 3 years and 6 years, respectively. Find the sum of simple interests received by them.Solution
ATQ, Simple interest received by ‘P’ = (2000 × 16 × 8)/100 = Rs. 2560 Simple interest received by ‘Q’ = (2000 × 24 × 3)/100 = Rs. 1440 Simple interest received by ‘R’ = (2000 × 36 × 6)/100 = Rs. 4320 Required sum = (2000/100) × {(16 × 8) + (24 × 3) + (36 × 6)} = Rs. 8320
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