Question
Ramesh deposited Rs. 10,500 at 18% per annum for 2 years
and Rs. 7,200 at 22% per annum for 4 years. Calculate the total simple interest he received.Solution
ATQ,
Simple interest = Principal × Rate × Time ÷ 100
So, required interest = 10,500 × 18 × 2 ÷ 100 + 7,200 × 22 × 4 ÷ 100= 3,780 + 6,336 = Rs. 10,116
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