Question

Amit lent a total of 12100 to three persons at
simple interest. He lent to the first person at
16% p.a. for 5 years, to the second at 12.5% p.a.
for 8 years and to the third at 15% p.a. for
4 years. At the ends of their respective time
periods, the amounts repaid by the first and the
second person were 7200 each. Find the
interest that Amit received from the third person.​

Answer 1

Answer:

Interest Received by Amit from 3rd person is Rs. 2700

Step-by-step explanation:

Given:

Total Amount Amit lent = Rs. 12100

Rate of interest of 1st person , r1 = 16%  and time, t1 = 5 years.

Rate of interest of 2nd person , r2 = 12.5%  and time, t2 = 8 years.

Rate of interest of 3rd person , r3 = 15%  and time, t3 = 4 years.

Amount repaid by 1st and 2nd person, A = Rs. 7200 each

To find: Interest Received by Amit from 3rd person.

let x be the principal amount of 1st person that is p1 = x

using simple interest formula,

$SI=\frac{P\times R\times T}{100}$

$A-P=\frac{x\times r1\times t1}{100}$

$7200-x=\frac{x\times16\times5}{100}$

By solving we get,

x = 4000

let y be the principal amount of 2nd person that is p2 = y

using simple interest formula,

$SI=\frac{P\times R\times T}{100}$

$A-P=\frac{y\times r2\times t2}{100}$

$7200-y=\frac{y\times12.5\times8}{100}$

By solving we get,

y = 3600

So, the principal amount of 3rd person = 12100 - 3600 - 4000 = 4500

$SI=\frac{P\times R\times T}{100}$

$SI=\frac{4500\times15\times4}{100}$

$SI=45\times15\times4$

SI = 2700

Therefore, Interest Received by Amit from 3rd person is Rs. 2700