Question
Amit invested Rs. 7,500 on simple interest at 20% p.a. for
2 years and Rs. 6,000 on simple interest at 18% p.a. for 3 years. What is the total interest he earned?Solution
ATQ,
Simple interest = Principal × rate × time ÷ 100
So, required interest = 7,500 × 20 × 2 ÷ 100 + 6,000 × 18 × 3 ÷ 100= 3,000 + 3,240 = Rs. 6,240
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