Question

Rachit borrowed rupees 15,000 from his friend. He gave rupees 3,000 at the rate of 15% per annum and the remaining amount at the rate of 18% per annum. How much interest did he pay in 4 years?​

Answer 1

Answer:

Let’s consider it to be simple interest.

Step-by-step explanation:

Now, breaking down the question, Rs. 3000 was borrowed at a rate of 15% and Rs. 12000 (15000–3000) was borrowed at a rate of 18% p.a.

So, interest earned in 4 years on the sum of 3000 = (3000*15*4)/100 = Rs. 1800.

and interest earned in 4 years on the sum of 12000 = (12000*18*4)100 = Rs. 8640.

Therefore total interest payed in 4 years is (1800+8640) = Rs. 10440.