Question

Javed deposits ₹ 75,000 in 3 different banks A, B, and C at the rate of interest 10 p.c.p.a, 12 p.c.p.a and 15 p.c.p.a respectively for 3 years. What is the total amount he will get from all the banks?

• A. ₹ 3,08,250
• B. ₹ 3,10,285
• C. ₹ 3,20,000
• D. ₹ 83,250

Answer 1

The correct option is A ₹ 3,08,250

$I=\frac{P\times T\times R}{100}$
Let interest from bank A be a1,
$a1=\frac{75,000\times 3\times 10}{100}$
Let interest from bank B be b1,
$b1=\frac{75,000\times 3\times 12}{100}$
Let interest from bank C be c1,
$c1=\frac{75,000\times 3\times 15}{100}$
Total interest =a1+b1+c1
$=\frac{75,000\times 3\times 10}{100}+\frac{75,000\times 3\times 12}{100}+\frac{75,000\times 3\times 15}{100}$

$=\frac{75,000\times 3}{100}\times (10+12+15)$
[Taking $\frac{75,000\times 3}{100}$ common from all the three terms]

$=\frac{75,000\times 3\times 37}{100}$

= ₹ 83,250

Amount = Principal + Interest
$\therefore$Total amount from all banks
$=75,000+a1+75,000+b1+75,000+c1$
$=75,000\times 3+a1+b1+c1$
$=2,25,000+83,250$
= ₹ 3,08,250