Multiple choice

What will be the total simple interest of Rs. 18000 for 3 years at the rate of 4% for the first year, 6% for the second year, and 8% for the third year?

  1. Rs. 3350

  2. Rs. 3240

  3. Rs. 3200

  4. Rs. 3000
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Year 1: 4% of 18000 = 720. Year 2: 6% of 18000 = 1080. Year 3: 8% of 18000 = 1440. Total simple interest = 720 + 1080 + 1440 = 3240. Simple interest is calculated on the original principal each year, not on accumulated amount.

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