Fill in the blanks to make the statement true: The _________ of interest on a sum of ₹ 2000 at the rate of 6% per annum for 11/2 years and 2 years is ₹ 420.

Answer:

The sum of interest on a sum of ₹ 2000 at the rate of 6% per annum for 1½ years and 2 years is ₹ 420.

Given:

  • P = 2000
  • R = 6%
  • T = 1½ years

As we know that,

I = (P × R × T)/100

I = (2000 × 6 × 3)/ (100 × 2)

I = ₹ 180

For 2 years,

I = (P × R × T)/100

I = (2000 × 6 × 2)/ (100)

I = ₹ 240

Then, sum = 180 + 240 = ₹ 420

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