Ashok lent out rs.7000 at 6 percent and rs.9500 at 5 percent. find his total income from the interest in 3 years
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Answer:
In I case :
P = Rs. 7000
R = 6%
T = 3 years
S.I. = (P × R × T)/100
= Rs. (7000 × 6 × 3)/100
= Rs. 1260
In II Case :
P = Rs. 9500
R = 5%
T = 3 years
S.I = (P × R × T)/100
= Rs. (9500 × 5 × 3)/100
= Rs. 1425
Total income from the interest
= Rs. 1260 + Rs. 1425
= Rs. 2685
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