Rachit borrowed 15000 from his friend. He gave 3000 at the rate of 15% per annum and the remaining amount at the rate of 18% per annum. How much interest did he pay in 4 years

Therefore he paid $10440 in 4 year.

Step-by-step explanation:

Given, Rachit borrowed $15000 from his friend. He gave $3000 at the rate 15% for 4 year.

Interest (I₁) = Prt here P = $3000, r=15% and t = 4 year

=$ (3000*0.15*4)

=$1800

He gave $ (15000-3000) = $12000 at the rate of 18%.

Interest (I₂) = Prt here P = $12000, r=18% and t = 4 year

=$ (12000*0.18*4)

=$8640

Therefore he paid = $ (1800+8640) = $10440 in 4 year.