A sum of ₹ 10000 is lent on simple interest at the rate of 15% per annum. What is the difference between Simple interest for 6 years and the simple interest for 2 years?
Given, Principal = Rs.10000
Rate of interest = 15%
Simple Interest for 1 year = 15% of Rs.10000 = Rs.1500
Then, Simple Interest for 2 years = 2*1500 = Rs.3000
Simple Interest for 6 years = 6*1500 = Rs.9000
Therefore, Required difference = Rs.9000-Rs.3000 = Rs.6000.
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