A man invested a sum at a certain rate of interest on simple interest and he…
2020
A man invested a sum at a certain rate of interest on simple interest and he got 60% more amount after eight year. If he invests Rs. 9600 at the same rate of interest on SI, then find the total interest he would get after four years?
- A.
3840 Rs.
- B.
2880 Rs.
- C.
2520 Rs.
- D.
2160 Rs.
- E.
2260 Rs.
Attempted by 9 students.
Show answer & explanation
Correct answer: B
The amount is 60% more after 8 years, so the simple-interest rate is 7.5% per year. Interest on Rs. 9600 for 4 years = 9600 x 7.5 x 4 / 100 = 2880.