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A man borrowed a certain sum of money for 8 years. If the simple interest on the sum after 3 years is Rs. 840, how much simple interest he had to pay after 8 years?1). Rs. 16802). Rs. 22403). Rs. 36604). Rs. 4200 |
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Answer» <P>? SIMPLE INTEREST = (Principal × Rate × Time)/100 Let the principal and the rate be Rs. P and R% respectively Simple interest after 3 years = 3PR/100 = 840 ⇒ PR/100 = 840/3 = 280 ∴ Simple interest after 8 years = 8PR/100 = 8 × 280 = Rs. 2240 |
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