A sum of ₹7,500 is invested at 8% per annum simple interest. After 3 years, the amount obtained is reinvested for 2 more years at the same rate. Find the final amount.
₹ 10,788
The simple interest for the first 3 years is \(SI = \frac{7500 \times 8 \times 3}{100} = 1800\).
The amount after 3 years is \(7500 + 1800 = 9300\).
This amount of ₹9,300 is reinvested at the same 8% rate for 2 more years, giving \(SI = \frac{9300 \times 8 \times 2}{100} = 1488\).
The final amount is \(9300 + 1488 = 10788\).
Hence, the final amount is ₹10,788.
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