Saurabh lent 50,000 to his friend. He gave 30,000 at 12% and the remaining amount at 15%. How
much interest did he receive in 4 years?
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Answer:
Total money Sourabh lent to his friend = 50,000
His friend gave 30,000 at 12% per annum for 4 years.
so principal (p1)=30,000
rate of interest(r1) =12%
Time taken(t)= 4 years
Interest(i1) = p1×r1×t/100
= 30000×12×4/100
=14,400
Remaining money =50,000-30,000
=20,000
His friend gave 20000 at 15% per annum for 4 years
so, principal (p2)=20,000
rate of interest (r2)=15%
time taken(t) =4 years
Interest (i2)=p2×r2×t/100
=20000×15×4/100
=12,000
Total interest received =i1+i2
=14,400+12,000
=26,400
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