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Mr. Pawan invests an amount of X 24200 a...

Mr. Pawan invests an amount of X 24200 at the rate of 4% per annum for 6 yr to obtain a simple interest, later he invests the principal amount as well as the amount obtained as simple interest for another 4 yr at the same rate of interest. What amount of simple interest will be obtained at the end of the last 4 yr?

A

X4800

B

X4850.32

C

X4801.30

D

X4702

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AI Generated Solution

The correct Answer is:
To solve the problem step by step, we need to calculate the simple interest for the first 6 years and then use the total amount (principal + interest) to calculate the simple interest for the next 4 years. ### Step 1: Calculate the Simple Interest for the First 6 Years The formula for Simple Interest (SI) is: \[ SI = \frac{P \times R \times T}{100} \] where: - \( P \) = Principal amount (initial investment) - \( R \) = Rate of interest per annum - \( T \) = Time in years Given: - \( P = 24200 \) - \( R = 4\% \) - \( T = 6 \) Substituting the values into the formula: \[ SI = \frac{24200 \times 4 \times 6}{100} \] Calculating: \[ SI = \frac{24200 \times 24}{100} \] \[ SI = \frac{580800}{100} \] \[ SI = 5808 \] ### Step 2: Calculate the Total Amount After 6 Years Total Amount (A) after 6 years is given by: \[ A = P + SI \] Substituting the values: \[ A = 24200 + 5808 \] \[ A = 30008 \] ### Step 3: Calculate the Simple Interest for the Next 4 Years Now, Mr. Pawan invests the total amount \( 30008 \) for another 4 years at the same rate of interest (4%). Using the Simple Interest formula again: \[ SI = \frac{P \times R \times T}{100} \] where: - \( P = 30008 \) - \( R = 4\% \) - \( T = 4 \) Substituting the values: \[ SI = \frac{30008 \times 4 \times 4}{100} \] Calculating: \[ SI = \frac{30008 \times 16}{100} \] \[ SI = \frac{480128}{100} \] \[ SI = 4801.28 \] ### Final Answer The amount of simple interest obtained at the end of the last 4 years is **4801.28**. ---
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