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The sum of interest on a sum of ₹ 2000 at the rate of 6% per year for 1.5 years and 2 years is ₹ ____.

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Detailed Solution

The sum of interest on a sum of ₹ 2000 at the rate of 6% per year for 1.5 years and 2 years is ₹ 420.
Given, principal(P) = ₹ 2000.
Rate(R) = 6%
We know that, simple interest =

\frac{PTR}{100}

.
Simple interest for 1.5 years =

\frac{2000 \times 1.5 \times 6}{100}

= ₹ 180

Simple interest for 2 years =

\frac{2000 \times 2 \times 6}{100}

= ₹ 240

The sum of the interests = 180 + 240
= ₹ 420
So, the sum of the interests = ₹ 420.
Hence, ₹ 420 is the correct answer.

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