Question

Rakshat borrows Rs.$16,000$ out of which Rs.$9,000$ at $5\%$ and remaining at $6\%$. Find the total simple interest paid by him in $4$ years.

• A. Rs.$3,280$
• B. Rs.$3,380$
• C. Rs.$3,480$
• D. Rs.$3,580$

Answer 1

The correct option is C Rs.$3,480$

He borrowed $9000$ at $5$ % and remaining $7000(16000-9000)$ at $6$%

We know that $SI=\frac{PRT}{100}$

For $P=9000,R=5,T=4$

$SI=\frac{9000\times 5\times 4}{100}=1800$

For $P=7000,R=6,T=4$

$SI=\frac{7000\times 6\times 4}{100}=1680$

Total $SI=1800+1680=3480$

$\therefore$ He has to pay Rs.$3480$ at end of $4$ years.