A lent out Rs. 15000 which is 40% of Principal on simple interest for 2 years at 24%. Remaining 60% on compound interest calculated annually for the same period at the rate of interest 20% per annum. Find the total interest earned by A.?

Rs. 14500
Rs. 16500
Rs. 13400
Rs. 17100

LohaHridoy

4 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 4 : Rs. 17100

Given,

Total Principal = 15000 × 100/40 = 37500

Suppose P = Principal, R = rate of interest and N = time

Simple Interest = PNR/100

Compound interest calculated annually = P(1 + R/100)ⁿ – P

Given,

Simple Interest = (15000 × 2 × 24)/100 = Rs. 7200

Principal for compound interest = 37500 × 60/100 = Rs. 22500

Compound interest = 22500(1 + 20/100)² – 22500 = Rs. 9900

Total interest = 7200 + 9900 = Rs. 17100

4 views Answered 2022-09-04 04:29

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