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    Question

    An investment at 18% simple interest for 2 years gives Rs.

    1,800 as interest. What would be the interest if the same sum is invested at 12% for 4 years?
    A Rs.2900 Correct Answer Incorrect Answer
    B Rs.2480 Correct Answer Incorrect Answer
    C Rs.2620 Correct Answer Incorrect Answer
    D Rs.2400 Correct Answer Incorrect Answer

    Solution

    ATQ,

    Let the invested amount be Rs. 'P'

    Formula of simple interest = (P × R × T) ÷ 100

    ATQ;

    1800 = (P × 18 × 2) ÷ 100

    Or, P = 1800 ÷ 0.36

    Or, P = 5000

    Required interest = (5000 × 12 × 4) ÷ 100 = Rs. 2400

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