A certain sum amounts to ₹12096 at 8% p.a. in $5\frac{1}{2}$ years at simple interest. What will be the simple interest on the same sum at 10% p.a. in 8 years?

₹6720

Total simple interest of \(\frac{11 }{2 }\) years = 8% × \(\frac{11 }{2 }\) = 44%

Let initial sum = 100%

ATQ,

144% = 12096

1% = \(\frac{12096 }{144 }\) = 84

Initial Sum = 100% = 100 × 84 = Rs. 8400

We know ,

Simple Interest = \(\frac{Principal ×Rate × Time }{100}\)

= \(\frac{8400 × 10 × 8}{100}\)

= Rs. 6720