AFCAT I 12 Feb 2022 Shift 1 Paper

Given
Principal = ₹ 18600
Rate of Interest = 15% per annum
Formula used
Simple‌Interest=

(Principal×Rate×Time)

100

Calculation
Simple Interest for 2 years =

(18600×15×2)

100

=₹5,580
Interest is added in Principal
So, New principal = 18600 + 5,580 = Rs 24,180
Simple Interest for next 2 years
⇒

(₹‌24180×15×2)

100

=₹‌7,254
So, Total Interest after 4 years = ₹ 5,580 + ₹ 7,254 = ₹ 12834