Question

Vaibhav lent out Rs.$70,000$ at $6$% and Rs.$95,000$ at $5$%. Find his total income from the interest in 3 years.

• A. $26850$
• B. $25650$
• C. $25950$
• D. $26000$

Answer 1

Answer: (A)

$26850$

Here $P=Rs.70000,T=3years$ and $R=6\%$

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

$\Rightarrow$ $S.I.=\frac{70000\times 6\times 3}{100}=Rs.12,600$

$\Rightarrow$ Now, $P=Rs.95000,T=3years$ $R=5\%$

$\Rightarrow$ $S.I.=\frac{P\times R\times T}{100}=\frac{95000\times 5\times 3}{100}$

$\Rightarrow$ $S.I.=Rs.14,250$.

$\therefore$ Total earning from investment = $Rs.12,600+Rs.14,250=Rs.26,850$