📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    Rohit invests Rs. 7,500 on compound interest at 10% p.a.

    (compounded annually) for 2 years and Rs. 6,400 on simple interest at 12% p.a. for 4 years. Find the total interest earned by him.
    A Rs. 3,647 Correct Answer Incorrect Answer
    B Rs. 4,647 Correct Answer Incorrect Answer
    C Rs. 4,600 Correct Answer Incorrect Answer
    D Rs. 5,047 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ,

    Image
    So, compound interest = 7,500 × 1.1² - 7,500 = Rs. 1,575

    Simple interest = Principal × rate × time ÷ 100

    So, simple interest = 6,400 × 12 × 4 ÷ 100 = Rs. 3,072

    Therefore, total interest earned by Rohit = 1,575 + 3,072 = Rs. 4,647

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question