Question
Someone puts Rs. 18,000 in a scheme offering simple
interest at ‘x%’ annually and receives Rs. 22,500 after 2.5 years. If he had instead invested Rs. 15,000 at the same rate for 3 years, what interest would he have earned?Solution
Total interest for 2.5 years = 22500 - 18000 = Rs. 4,500 ATQ; 4500 = (18000 × x × 2.5) ÷ 100 ⇒ x = 10 So, required interest = (15000 × 10 × 3) ÷ 100 = Rs. 4,500
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