Question

If a deposit of $Rs.2000$ yield an interest of $Rs.500$ in $3$ years, how much interest would a deposit of $Rs.36000$ yield in the same period of time?

Answer 1

As we know that,

$S.I.=\frac{P\times R\times t}{100}$

Given:-

$S.I.=Rs.500$

$P=Rs.2000$

$t=3\text{years}$

$\therefore 500=\frac{2000\times R\times 3}{100}$

$\Rightarrow R=\frac{500}{20\times 3}=\frac{25}{3}\%$

Therefore,

For $Rs.36000$,

$S.I.=\frac{36000\times \frac{25}{3}\times 3}{100}=Rs.9000$