Question
Rs. 2,250 is the interest earned in 5 years at 9% per
annum simple interest. If this amount is invested at 6% per annum for 3 years, what will be the interest earned?Solution
ATQ,
Let the invested amount be Rs. 'P'
Formula of simple interest = (P Ă— R Ă— T) Ă· 100
ATQ;
2250 = (P Ă— 9 Ă— 5) Ă· 100
Or, P = 2250 Ă· 0.45
Or, P = 5000
Required interest = (5000 Ă— 6 Ă— 3) Ă· 100 = Rs. 900
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