Arav fixes the rate of interest 5% per annum for first 3 years and for the next 4 years 6 percent per annum and for the period beyond 7 years, 7 percent per annum. If Mr. Kumar lent out Rs.2500 for 11 years, find the total interest earned by him?

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Solution

5 $f o r 3 y e a r s =$ 5\times 3=15$%
6% for 4 years = $6 \times 4 = 24$ %
7.5% for 4 years = $7.5 \times 4 = 28$ %
15% + 24% +28%= 67%
67% of 2500 = $\frac{67}{100} \times 2500$
= Rs. 1675.

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Arav fixes the rate of interest 5% per annum for first 3 years and for the next 4 years 6 percent per annum and for the period beyond 7 years, 7 percent per annum. If Mr. Kumar lent out Rs.2500 for 11 years, find the total interest earned by him?

5for3years=5\times 3=15$%6% for 4 years = 6×4=24%7.5% for 4 years = 7.5×4=28%15% + 24% +28%= 67%67% of 2500 = 67100×2500= Rs. 1675.

5 $f o r 3 y e a r s =$ 5\times 3=15$%
6% for 4 years = $6 \times 4 = 24$ %
7.5% for 4 years = $7.5 \times 4 = 28$ %
15% + 24% +28%= 67%
67% of 2500 = $\frac{67}{100} \times 2500$
= Rs. 1675.