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The SI and CI that can be earned by a man in two years at the same rate is Rs 8000 and Rs 8360 respectively. If he gives a loan of Rs 15000 to his friend at the same rate (percent per annum) of interest at simple interest, how much will he earn from his friend in 3 years? 
  • a)
    4000 
  • b)
    4025 
  • c)
    4050 
  • d)
    4030 
Correct answer is option 'C'. Can you explain this answer?
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Given:
SI for 2 years = Rs 8000
CI for 2 years = Rs 8360
Principal = ?
Rate of interest = ?
Time = 2 years

To find:
Interest earned by the man when he lends Rs 15000 to his friend for 3 years at the same rate of interest as before.

Solution:
Let the principal be P, rate of interest be R and time be T.

SI for 2 years = PRT/100 = 8000
CI for 2 years = P[(1+R/100)^2 - 1] = 8360

Dividing the above equations, we get:
(1+R/100)^2 - 1 = 8360/8000
(1+R/100)^2 = 1.045
1+R/100 = √1.045
R = 4.5%

Thus, the principal is:
P = SI/(RT/100) = 8000/(2*4.5) = Rs 8888.89

Now, when the man lends Rs 15000 to his friend at the same rate of interest, the interest earned by him in 3 years will be:
SI = PRT/100 = 15000*4.5*3/100 = Rs 2025

Therefore, the total amount earned by the man from his friend in 3 years will be:
15000 + 2025 = Rs 17025

Hence, option (c) 4050 is the correct answer.
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The SI and CI that can be earned by a man in two years at the same rate is Rs 8000 and Rs 8360 respectively. If he gives a loan of Rs 15000 to his friend at the same rate (percent per annum) of interest at simple interest, how much will he earn from his friend in 3 years?a)4000b)4025c)4050d)4030Correct answer is option 'C'. Can you explain this answer?
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