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22 June, 04:46

Rachit borrowed 15000 from his friend. He gave 3000 at the rate of 15% per annum and the remaining amount at the rate of 18% per annum. How much interest did he pay in 4 years

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  1. 22 June, 05:45
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    Therefore he paid $10440 in 4 year.

    Step-by-step explanation:

    Given, Rachit borrowed $15000 from his friend. He gave $3000 at the rate 15% for 4 year.

    Interest (I₁) = Prt here P = $3000, r=15% and t = 4 year

    =$ (3000*0.15*4)

    =$1800

    He gave $ (15000-3000) = $12000 at the rate of 18%.

    Interest (I₂) = Prt here P = $12000, r=18% and t = 4 year

    =$ (12000*0.18*4)

    =$8640

    Therefore he paid = $ (1800+8640) = $10440 in 4 year.
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