Multiple choice

If the investment of Naimish from scheme A becomes 4 times of itself in 15 years at simple interest. Find the interest earned by Deepak from scheme A on 10000 in 5 years?

  1. 3000

  2. 7500

  3. 9000

  4. 10000

  5. None of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

At simple interest, if an amount becomes 4 times in 15 years, the total interest is 300% (4P - P = 3P). Using SI = P × R × T / 100, we get 3P = P × R × 15 / 100, so R = 20%. For Deepak's investment of Rs. 10000 at 20% for 5 years: Interest = 10000 × 20 × 5 / 100 = Rs. 10000.

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