Question

Mrs Vino deposits rupees 20000 in private bank at 11.5 5% for 2 years and rupees 10000 in a government bank at 8.55% for 3 years find the total interest received by her

Answer 1

Answer:

The total interest received by her  = RS 7185

Step-by-step explanation:

It is given that,

Mrs Vino deposits rupees 20000 in private bank at 11.5 5% for 2 years and rupees 10000 in a government bank at 8.55% for 3 years

To find interest received from private bank

Principle Amount, P = 20000

Rate of interest = 11.55%

Number of years = 2

Interest I = PNR/100 = (20000 x 2 x 11.55)/100 = Rs 4620

To find interest received from government bank

Principle Amount, P = 10000

Rate of interest = 8.55%

Number of years = 3

Interest I = PNR/100 = (10000 x 3 x 8.55)/100 = Rs 2565

To find total interest

The total interest received by her  = 4620 + 2565 = RS 7185

Answer 2

Answer:

Rs 7185

Step-by-step explanation:

We use  the formula to calculate interest that is

Simple interest = Principal x rate x time / 100  

So Mrs Vino deposits in two types of banks, one in private bank and another in a government bank.

First let us calculate in a private bank:

 P = rs 20,000, r = 11.55%, t = 2 years

I = 20,000 x 11.55 x 2 / 100

I = Rs 4620

Now to calculate in a government bank

P = 10,000, r = 8.55%, t = 3 years

I = 10000 x 8.55 x 3 / 100    

I =  Rs 2565

Now we have to calculate the total interest received by her:

4620 + 2565 = Rs 7185