Question

If a person son deposit RS. 1000 and gets RS.250 as interest for 3 years how much interest would a deposit of RS.3600 earn in 3 years with the same rate of interest

Answer 1

Interest = principle*time*rate of interest/100
here principle amount = Rs 1000
          interest = Rs 250
         time = 3years
therefore 250 = 1000*3*r/100
⇒ r = 8.33 %
For another deposit principle = Rs 3600
                                    time = 3 years
                                  rate of interest = 8.33%
Interest = 3600 * 3 *8.33 /100
⇒ interest = Rs 900