Practicing Success
The rate of simple interest for first 3 year is 6%, for next 4 years it is 7% and the period beyond 7 years it is 7.5% per annum. If a man invest ₹9400 for 11 years, find the simple interest earned by him? |
₹6900 ₹7230 ₹7144 ₹7654 |
₹7144 |
Total S.I. for first 3 years = 6% × 3 = 18% Total S.I. for next 4 years = 7% × 4 = 28% Total S.I. for next 4 years = 7.5% × 4 = 30% Total S.I. for 11 years = (18 + 28 + 30)% = 76% S.I. for 11 years = 9400 × 76% = 7144/- |