Question

The ______ of interest on a sum of ₹ 2000 at the rate of 6% per annum for ${\displaystyle 1\frac{1}{2}}$ years and 2 years is ₹ 420.

Answer 1

The sum of interest on a sum of ₹ 2000 at the rate of 6% per annum for ${\displaystyle 1\frac{1}{2}}$ years and 2 years is ₹ 420.

Explanation:

Given, P = ₹ 2000 and R = 6%

For ${\displaystyle 1\frac{1}{2}}$ yr, I = ${\displaystyle \frac{P\times R\times T}{100}}$

= ${\displaystyle \frac{2000\times 6\times 3}{100\times 2}}$

= ₹ 180

For 2 yr, I = ${\displaystyle \frac{P\times R\times T}{100}}$

= ${\displaystyle \frac{2000\times 6\times 2}{100}}$

= ₹ 240

∴ The sum of both interests is ₹ (180 + 240), i.e. ₹ 420.