- Rs. 2784
- Rs. 2460
- Rs. 2889
- Rs. 2680

Option 1 : Rs. 2784

Stay updated with the Quantitative Aptitude questions & answers with Testbook. Know more about Interest and ace the concept of Simple and Compound Both.

Given

A person invest on simple interest = Rs. 7000

A person invest on compound interest = Rs. 10,000

Rate of Interest = 8%

Formula used.

Simple interest = Principal × Time × Rate/100

Amount = Principal(1 - Rate/100)2

Calculation

Simple Interest = 7000 × 8 × 2/100 = Rs 1120

Amount = 10000(1 + 8/100)2

⇒ 10000 × 27/25 × 27/25

⇒ Rs. 11,664

Compound Interest = 11664 - 10000 = 1664

Total Interest earned by person = 1664 + 1120 = Rs. 2784

∴ The required answer is Rs 2784

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