Question
A principal of Rs. 7,500 earns Rs. 1,125 as simple interest in 3 years. What will be the simple interest on Rs. 9,000 for 5 years at the same rate?
Solution
Let the rate of interest be 'R%' p.a. ATQ, 7500 × (R/100) × 3 = 1125 ⇒ R = 1125 ÷ 225 = 5 Now, required interest = 9000 × (5/100) × 5 = 9000 × 0.25 = Rs. 2,250
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