Question

At a certain rate of interest, the interest
after 4 years on 5000 rupees principal
is 1200 rupees. What would be the
interest on 15000 rupees at the same
rate of interest for the same period?​

Answer 1

Answer:

Given that,

P= Rs 5000

I= 1200

T= 4 yrs

The formula of simple interest is given by:

I= P*R*T/100

Putting all the given values in the above equation, we get:

1200= 5000*R*4/100

1200= 200*R

R= 1200/200=6

So,

R=6%

Using the same formula of simple interest for principle 15000

I= P*R*T/100

I= 15000*6*4/100=3600

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Step-by-step explanation:

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