# Mr. Amar won a lottery of Rs. 288000. He invested the amount at the rate of 6 % per annum for 4 years to obtain Simple interest, later he invested the

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Mr. Amar won a lottery of Rs. 288000. He invested the amount at the rate of 6 % per annum for 4 years to obtain Simple interest, later he invested the  amount and earned interest as simple interest in another bank for 6 years at 8 % per annum. Find the interest earned by the Mr. Amar at the end of last 6 years.
1. Rs. 1,23,557.6
2. Rs. 1,71,417.6
3. Rs. 1,11,417.6
4. Rs. 1,17,417.6

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Correct Answer - Option 2 : Rs. 1,71,417.6

Given:

Principal = Rs. 2,88,000

Rate for 1st case = 6 %

Time for 1st case = 4 years

Rate for 2nd case = 8%

Time for 2nd case = 6 years

Formula used:

Simple interest = Principal × Rate/100 × Time

Calculation:

Interest for 1st 4 years,

Simple interest = Principal × Rate/100 × Time

⇒ Simple interest = 288000 × 6/100 × 4

⇒ Simple interest = Rs. 69,120

Interest for next 6 years,

New principal = 288000 + 69120 = Rs. 3,57,120

Simple interest = Principal × Rate/100 × Time

⇒ Simple interest = 357120 × 8/100 × 6

⇒ Simple interest = Rs. 1,71,417.6

The interest earned by the Mr. Amar at the end of last 6 years is Rs. 1,71,417.6