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Ashok lent out Rs 7000 at and 9500 at interest. Find his total income from the interest in 3 years.

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Rs.1966

Rs.2133

Rs.2685

Rs.2948

answer is C.

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Detailed Solution

Concept: Formula to calculate simple interest,

The rate of interest for two amounts is different so, we must find simple interest separately with different rates of interest.
When principal amount is 7000 with a rate of interest of

When principal amount is 9500 with a rate of interest of

Total will be =

= Rs

Hence, the correct answer is option 3.

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