Aspire Faculty ID #11585 · Topic: NIMCET 2023 · Just now
NIMCET 2023

Hari invested an amount at a certain rate of interest on simple interest and he got 60% more amount after eight years. If he invests Rs. 9600 at the same rate of interest on simple interest, then find the total interest he would get after four years?

Solution

Given: 60% interest in 8 years using Simple Interest (SI).

So, rate (R) = (60 / 8) = 7.5% per annum

Now, SI on ₹9600 for 4 years at 7.5%:

SI = (9600 × 7.5 × 4) / 100 = ₹2880

✅ Final Answer: ₹2880

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