Question

Ashok lent out Rs. Rs. 7000 at 6% and Rs. 9500 at 5%/ Find his total income from the interest in 3 years.

Answer 1

In I case
P= Rs. 7000
R=6%
T=3 years
S.I= $\frac{P\times T\times R}{100}$
=Rs. $\frac{7000\times 6\times 3}{100}$
=Rs. 1260
In II case:
P= Rs. 9500
R= 5%
T= 3 years
S.I= $\frac{P\times T\times R}{100}$
=$Rs.\frac{9500\times 5\times 3}{100}$
=Rs. 1425
Total income from the interest
=Rs. 1260+Rs. 1425
=Rs. 2685