Question

If a deposit of Rs $2,000$ earns an interest of Rs $500$ in $3$ years, how much interest would a deposit of Rs $36,000$ earn in $3$ years with the same rate of simple interest?

Answer 1

Step : Find the interest earned on the deposit of Rs $36,000$ for $3$ years
Given : Interest earned on deposit of Rs $2000$ for $3$ years = Rs $500$
$\Rightarrow$ Interest earned on Rs $1$ for $3$ years = Rs $\frac{500}{2000}$
$\Rightarrow$Interest earned on Rs $36000$ for $3$ years
= Rs$36000\times$$\frac{500}{2000}$
= Rs$36\times 1000\times$$\frac{500}{2000}$
= Rs $9000$
$\therefore$ Interest earned on Rs$36000$ in $3$ years = Rs $9000$
Hence, the interest earned on a deposit of Rs $36000$ in $3$ years is Rs $9000$.