Rakesh obtained a simple interest of ₹3,195 on a certain principal in 6 years at the rate of 15% per annum. What amount of simple interest would he get if he invested ₹1,250 more than the previous principal for 3 years at the same rate of interest?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e ₹2,160.
SI = (P × R × T) / 100
⇒ 3195 = (P × 15 × 6) / 100
⇒ 3195 = 90P / 100
P = (3195 × 100) / 90 = ₹3,550
New principal = 3550 + 1250 = ₹4,800
New time = 3 years
Rate = 15%
New SI = (4800 × 15 × 3) / 100 = (4800 × 45) / 100 = ₹2,160