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Find the total Simple Interest on Rs. 500 at 7% per annum, on Rs. 700 at 10% per annum and on Rs. 1000 at 4% per annum for 3 years?
  • a)
    435
  • b)
    500
  • c)
    700
  • d)
    1000
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Find the total Simple Interest on Rs. 500 at 7% per annum, on Rs. 700 ...
We know that S.I = P × T × R/100 where S.I = Simple Interest
⇒ S.I1 = 500 × 1 × 7/100 = Rs.35
⇒ S.I= 700 × 1 × 10/100 = Rs.70
⇒ S.I3 = 1000 × 1 × 4/100 = Rs.40
∴ Total simple interest for 3 years = 3 (S.I1 + S.I+ S.I3) = 3(35 + 70 + 40) = 3(145) = Rs.435 
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Most Upvoted Answer
Find the total Simple Interest on Rs. 500 at 7% per annum, on Rs. 700 ...
To find the total simple interest on different amounts for a given period of time, we can use the formula:

Simple Interest = Principal * Rate * Time

Given:
Principal 1 (P1) = Rs. 500
Rate 1 (R1) = 7% per annum
Time 1 (T1) = 3 years

Principal 2 (P2) = Rs. 700
Rate 2 (R2) = 10% per annum
Time 2 (T2) = 3 years

Principal 3 (P3) = Rs. 1000
Rate 3 (R3) = 4% per annum
Time 3 (T3) = 3 years

Let's calculate the simple interest for each amount separately and then find the total.

Calculation:
1. Simple Interest on Rs. 500:
Simple Interest 1 = P1 * R1 * T1
= 500 * 7/100 * 3
= Rs. 105

2. Simple Interest on Rs. 700:
Simple Interest 2 = P2 * R2 * T2
= 700 * 10/100 * 3
= Rs. 210

3. Simple Interest on Rs. 1000:
Simple Interest 3 = P3 * R3 * T3
= 1000 * 4/100 * 3
= Rs. 120

Now, let's find the total simple interest:
Total Simple Interest = Simple Interest 1 + Simple Interest 2 + Simple Interest 3
= 105 + 210 + 120
= Rs. 435

Therefore, the total simple interest on Rs. 500, Rs. 700, and Rs. 1000 for 3 years is Rs. 435. Hence, option A is the correct answer.
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