The _________ of interest on a sum of ₹ 2000 at the rate of 6% per annum for 1½ years and 2 years is ₹ 420.

Question

Fill in the blanks to make the statement true.

The _________ of interest on a sum of ₹ 2000 at the rate of 6% per annum for 1½ years and 2 years is ₹ 420.

Answer 1

The sum of interest on a sum of ₹ 2000 at the rate of 6% per annum for 1½ years and 2 years is ₹ 420.

From the question it is given that, P = 2000, R = 6% and R = 1½

As we know that,

I = (P × R × T)/100

I = (2000 × 6 × 3)/ (100 × 2)

I = ₹ 180

For 2 year,

I = (P × R × T)/100

I = (2000 × 6 × 2)/ (100)

I = ₹ 240

Then, sum = 180 + 240 = 420