Mr. Pawan invests an amount of ₹ 242000 at the rate of 4% per annum for 6 yr to obtain a simple interest, later he invests the principal amount as well as the amount obtained as simple interest for another 4 yr at the same rate of interest. What amount of simple interest will be obtained at the end of the last 4 yr?
Correct Answer: ₹ 4801.28
Explanation:
In the case I,
SI = (P x R x T) /100 = (24200 x 4 x 6) / 100 = ₹ 5808 ∴ Amount = Principal + SI
SI = 24200 + 5808 = 30008 In the case II,
SI = (30008 x 4 x 4) / 100 = ₹ 4801.28
