Question

Mr Garg lent Rs 15000 to his friend. He charged 15% per annum on Rs 12500 and 100,
rest. How much interest does he earn in 3 years?

Answer 1

Answer:

Step-by-step explanation:

Principal amount (P) = Rs 12500

Time period (T) = 3 years

Rate of interest (R) = 15% p.a.

Interest = (P×R×T100)

= (12500×15×3100) = Rs 5625

Rest of the amount lent = Rs 15000 - Rs 12500 = Rs 2500

Rate of interest = 18 % p.a.

Time period = 3 years

Interest =(P×R×T100)

= (2500×18×3100) = Rs 1350

Total interest earned = Rs 5625 + Rs 1350 = Rs 6975