Question
A person deposited Rs. 30,000 in a savings account that
earned simple interest at a rate of 'x%' per annum. After 2 years, the total amount in the account grew to Rs. 39,000. If the same individual had instead invested Rs. 20,000 at the same annual interest rate for a period of 4 years, determine the total interest accrued from this second investment.Solution
Total interest earned in 2 years = 39000 - 30000 = Rs. 9,000 ATQ; 9000 = (30000 X x X 2) ÷ 100 Or, x = 15 So, required interest earned = (20,000 X 15 X 4) ÷ 100 = Rs. 12,000 Hence, option e.
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