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      Question

      An amount of Rs. 18,000 generates a simple interest of

      Rs. 4,320 over a period of 2 years. Calculate the simple interest that would be generated if an amount of Rs. 22,500 is invested for 3 years at the same annual rate.
      A Rs.5,000 Correct Answer Incorrect Answer
      B Rs.3,000 Correct Answer Incorrect Answer
      C Rs.8,100 Correct Answer Incorrect Answer
      D Rs.2,000 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      ATQ, Let the rate of interest be 'R%' p.a. According to the question, 18000βˆ—(R/100)βˆ—2=4320 Or, R = 4320/360 So, R = 12 Now, the required interest = 22500βˆ—(12/100)βˆ—3 = 22500βˆ—0.36 = Rs. 8,100

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