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