Question

At a certain rate of interest, the interest after $4$ years on $Rs.5000$ principal is $Rs.1200$. What would be the interest on $Rs.15000$ at the same rate of interest for the same period?

Answer 1

Given:
Principal, P $=Rs.5000$

Time, T $=4$ years

Total interest, I $=Rs.1200$

Rate of interest, R $=\frac{I\times 100}{P\times T}$

$=\frac{1200\times 100}{5000\times 4}$

$=6\%$

Now, Total interest (I) on $Rs.15000=\frac{P\times R\times T}{100}$

$=\frac{15000\times 6\times 4}{100}$

$=Rs.3600$

Hence, the interest for the same period on $Rs.15000$ is $Rs.3600$