A person lent ₹2,000 at 6% per annum simple interest and ₹3,000 at 5% per annum simple interest. Find his total interest after 3 years.
Show answer & explanation
Correct answer: C
Explanation
Simple interest on 2000 = (2000 × 6 × 3) ÷ 100 = ₹360
Interest on 3000 = (3000 × 5 × 3) ÷ 100 = ₹450
Total interest = 360 + 450 = ₹810