1.

1). Rs. 75002). Rs. 84003). Rs. 70004). Rs. 7400

Answer»

P = RS. 36000, r = 16.67% = 1/6 and t = 1 year 73 DAYS

Interest GENERATED in 1 year = 36000(1 + 1/6) – 36000 = Rs. 6000

Interest generated in 2nd year = Interest on (SUM + interest of 1st year)

⇒ Interest on Rs. 42000

⇒ 42000(1 + 1/6) – 42000 = Rs. 7000

But in 2nd year, we need to calculate the interest for 73 days:

∴ Interest for 73 days = 7000 × 73/365 = Rs. 1400

∴ Total interest = 6000 + 1400 = Rs. 7400



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