Question
Vikram invested Rs. 2400 at R% p.a. simple interest for
4 years and Rs. 800 at (R + 9)% p.a. simple interest for 8 years. If the total interest earned equals Rs. 2336, determine the amount if Rs. 1200 is invested at (R + 7)% p.a. simple interest for 3 years.Solution
According to question; 2400 Ă— R/100 Ă— 4 + 800 Ă— (R + 9)/100 Ă— 8 = 2336 Or, 96R + 64R + 576 = 2336 Or, 160R = 1760 Or, R = 11 Desired amount = 1200 + 1200 Ă— 0.18 Ă— 3 = 1200 + 648 = Rs. 1848
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