Question

at a certain rate of interest the interest after 4 years on 5000 rupees principal is 1200 rupees what will be the interest on 15000 rupees at the same rate of interest for the same period?

Answer 1

Answer:

The interest on 15000 rupees at the same rate of interest for the same period will be rs 3600

Step-by-step explanation:

Given,

Time = 4 years

Principle = 5000 rs

Interest = 1200 rs

As we know,

Interest = ( Principle * Time * Rate Of Interest ) / 100

Substituting the values,

1200 = ( 5000 * 4 * Rate Of Interest ) / 100

Rate Of Interest = $\frac{1200*100}{5000*4}$

Rate of Interest = 6 %

Now,

Principle = 15000 rs

Time period = same = 4 years

Rate of Interest = 6 %

Again putting all the values in the formula for Simple Interest ,

Interest = ( Principle * Time * Rate Of Interest ) / 100

Substituting the values,

Interest = ( 15000 * 4 * 6 ) / 100

Interest = 150 * 4 * 6

Interest = 3600 rs

Hence ,

The interest on 15000 rupees at the same rate of interest for the same period will be rs 3600