Question

Irfan deposited 42000 in two bank accounts. He deposited 27000 in one account which gives 19 /2 % simple interest per annum and the remaining in another account which gives 11 %per annum. How much interest will he receive after 3 years

Answer 1

Hope it helps thee..

Answer 2

Rs 12645 is the total interest Irfan will receive after 3 years.

Total money deposited by Irfan = Rs 42000

He deposits Rs 27000 in first bank and the rest to the second bank.

First bank,

Money deposited = Principal (P) = Rs 27000

Rate (R) = 19/2 % p.a

Time (T) = 3 years.

Simple Interest (S.I.) is given as:

S.I₁ = (P × R × T) ÷ 100

= ( 27000 × 19/2 × 3) ÷ 100

= Rs 7695

Second bank,

Money deposited = Principal (P) = Rs (42000 - 27000) = Rs 15000

Rate (R) = 11 % p.a

Time (T) = 3 years.

Simple Interest (S.I.) is given as:

S.I₂ = (P × R × T) ÷ 100

= ( 15000 × 11 × 3) ÷ 100

= Rs 4950

So, total simple interests = S.I₁ + S.I₂

= Rs 7695 + Rs 4950

= Rs 12645