if a deposit of rupees 2000 earns an interest of rupees 500 in 3 years,how much interest would a deposit of rupees 36,000 earn in 3 years with the same rate of simple interest?
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Answer:
A earns an interest of rupees 9000.
Step-by-step explanation:
Given, Principal = ₹ 2000
Interest = ₹ 500
Time = 3 years
Rate of interest = I × 100 / P × T
= 500 × 100 / 2000 × 3
= 50000 / 6000 = 50 / 6 = 25 / 3
Again,
Given, Principal = ₹ 36000
Rate = 25 / 3 %
Time = 3 years
Simple Interest = P×R×T / 100
= 36000×25×3 / 100 × 3
= 360 ×25 = ₹ 9000 (answer).
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