On the first day of each of three successive years Meena deposits ₹10000 in a scheme that pays 8% simple interest per annum on every deposit until the scheme is closed at the end of the third year. The total interest she earns (in ₹) is:

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Accepted Answer

4800. The first deposit earns interest for 3 years, the second for 2 and the third for 1 — six deposit-years in all. Each deposit-year earns 10000 × 8/100 = ₹800, so the interest is 6 × 800 = ₹4800. (Treating the whole ₹30000 as invested for the full 3 years gives ₹7200; looking at a single deposit gives ₹2400.)

On the first day of each of three successive years Meena deposits ₹10000 in a scheme that pays 8% simple interest per annum on every deposit until the scheme is closed at the end of the third year. The total interest she earns (in ₹) is:

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