Question

At a certain rate of interest, the interest after 4 years on Rs 5000 principal is Rs 1200. What would be the interest on Rs 15000 at the same rate of interest for the same period?

Answer 1

The interest on Rs 5000 after 4 years is Rs 1200. 

Let us suppose the interest on Rs 15000 at the same rate after 4 years is Rs x. 

Taking the ratio of interest and principal, we get 

∴ x/1500 = 1200/5000

∴ x = (1200 x 15000)/5000 

= Rs 3600 

∴ The interest received on Rs 15000 is Rs 3600.