Question

Rajni borrowed rs 2000 from a friend for 2 years at 12% per annum and rs 3000 from the bank for 2 years at 15% per annum. How much total interest did she pay?

Answer 1

Answer:

Total interest = 1380 Rs.

Step-by-step explanation:

Given data

Rajani borrowed money from a friend and bank

the amount borrowed from her friend P₁ = 2000 Rs.

                                    rate of interest  R₁ = 12 %

                                          time period T₁ =  2 years  

the amount borrowed from bank  P₂ = 3000 Rs

                             rate of interest  R₂ = 15%  

                                   time period T₂  = 2 years

here we need to find total interest that she need to pay

Now find interest in both cases

i) interest on 2000 Rs,  I₁ = (P₁T₁R₁)/ 100

                                         =  $\frac{2000(2)(12)}{100}$    

                                         = 20(2)(12) = 480

ii) interest on 3000 Rs, I₂ = (P₂T₂R₂)/100

                                          = $\frac{3000(2)(15)}{100}$

                                          = 30(2)(15) = 900

the total interest that she need to pay = I₁ + I₂

                                                                = 480 + 900 = 1380 Rs.

Answer 2

GIVEN : principal amount 1 = 2,000; time period = 2; interest rate = 12%; principal amount = 3,000; year = 2; interest rate = 15%

TO FIND : total interest paid

SOLUTION : So for calculating interest paid on total we will add the interest paid to her friend and interest paid to bank.

TOTAL INTEREST = Interest paid to friend + Interest paid to bank

For calculating interest we will use simple interest formula

Simple Interest = $\frac{principal.rate.time }{100}$

Interest paid to her friend = $\frac{2000.2.12}{100}$

                                             = 480

Interest paid to bank = $\frac{3000.2.15}{100}$

                                   =  900

Total Interest paid = 480 + 900

                              = 1,380

Total interest paid is rupees 1,380.