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Sohan invested 20000 rupee in fixed deposit at the rate of 10% simple interest.After every 3 rd year he added interest to principal. Find the interest earned at the end of 6 year.
- a)7800
- b)8000
- c)7600
- d)8200
Correct answer is option 'A'. Can you explain this answer?
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Sohan invested 20000 rupee in fixed deposit at the rate of 10% simple ...
Answer –a) 7800 Solution: For the first 3 years SI will be = 20000*10/100*3 = 6000 Now he add 3000 to the principal i.e = 20000+6000 = 26000 Now interest earned at end of 6 year = 26000*10/100*3 = 7800
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Sohan invested 20000 rupee in fixed deposit at the rate of 10% simple ...
Solution:
Given:
Principal amount = Rs. 20000
Rate of interest = 10%
Time period = 6 years
Interest added to principal after every 3rd year
Calculation:
To find the interest earned at the end of 6 years, we need to calculate the interest for each 3-year period and add them together.
Interest for the first 3 years:
Principal = Rs. 20000
Rate of interest = 10%
Time period = 3 years
Using the formula for simple interest:
Interest = (Principal * Rate * Time) / 100
Interest = (20000 * 10 * 3) / 100
Interest = 6000
Interest for the next 3 years:
Principal = Rs. 20000 + Rs. 6000 (Interest earned in the first 3 years)
Rate of interest = 10%
Time period = 3 years
Using the formula for simple interest:
Interest = (Principal * Rate * Time) / 100
Interest = (26000 * 10 * 3) / 100
Interest = 7800
Total interest earned at the end of 6 years:
Total interest = Interest for the first 3 years + Interest for the next 3 years
Total interest = 6000 + 7800
Total interest = 13800
Therefore, the interest earned at the end of 6 years is Rs. 13800. However, none of the given options match with the calculated interest. Hence, the correct answer is not provided among the given options.
Given:
Principal amount = Rs. 20000
Rate of interest = 10%
Time period = 6 years
Interest added to principal after every 3rd year
Calculation:
To find the interest earned at the end of 6 years, we need to calculate the interest for each 3-year period and add them together.
Interest for the first 3 years:
Principal = Rs. 20000
Rate of interest = 10%
Time period = 3 years
Using the formula for simple interest:
Interest = (Principal * Rate * Time) / 100
Interest = (20000 * 10 * 3) / 100
Interest = 6000
Interest for the next 3 years:
Principal = Rs. 20000 + Rs. 6000 (Interest earned in the first 3 years)
Rate of interest = 10%
Time period = 3 years
Using the formula for simple interest:
Interest = (Principal * Rate * Time) / 100
Interest = (26000 * 10 * 3) / 100
Interest = 7800
Total interest earned at the end of 6 years:
Total interest = Interest for the first 3 years + Interest for the next 3 years
Total interest = 6000 + 7800
Total interest = 13800
Therefore, the interest earned at the end of 6 years is Rs. 13800. However, none of the given options match with the calculated interest. Hence, the correct answer is not provided among the given options.
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