Find the simple interest on Rs. 800 at 7% per annum and on Rs. 700 at 16% p.a. and on Rs. 500 at 4% p.a. for 2 years.Options376350367476
Question
Find the simple interest on Rs. 800 at 7% per annum and on Rs. 700 at 16% p.a. and on Rs. 500 at 4% p.a. for 2 years.Options376350367476
Solution 1
To find the simple interest, we use the formula:
Interest = (Principal * Rate * Time) / 100
Let's calculate it for each amount:
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For Rs. 800 at 7% per annum for 2 years: Interest = (800 * 7 * 2) / 100 = Rs. 112
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For Rs. 700 at 16% per annum for 2 years: Interest = (700 * 16 * 2) / 100 = Rs. 224
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For Rs. 500 at 4% per annum for 2 years: Interest = (500 * 4 * 2) / 100 = Rs. 40
Now, add all the interests together: Total Interest = 112 + 224 + 40 = Rs. 376
So, the simple interest on Rs. 800 at 7% per annum and on Rs. 700 at 16% p.a. and on Rs. 500 at 4% p.a. for 2 years is Rs. 376.
Solution 2
To find the simple interest, we use the formula:
Interest = (Principal * Rate * Time) / 100
For Rs. 800 at 7% per annum for 2 years: Interest = (800 * 7 * 2) / 100 = Rs. 112
For Rs. 700 at 16% per annum for 2 years: Interest = (700 * 16 * 2) / 100 = Rs. 224
For Rs. 500 at 4% per annum for 2 years: Interest = (500 * 4 * 2) / 100 = Rs. 40
Adding all the interests together: Total Interest = 112 + 224 + 40 = Rs. 376
So, the simple interest on Rs. 800 at 7% per annum and on Rs. 700 at 16% p.a. and on Rs. 500 at 4% p.a. for 2 years is Rs. 376.
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