A man invested a sum at a certain rate of interest on simple interest and he got 60% more amount after 8 years. If he invests Rs. 9600 at the same rate of interest on simple interest, then find the total interest he would get after four years.

Explanation

A person gets 60% more amount after 8 years. Let Principal Amount be P. => Amount = (160/100)P. Simple Interest = Amount - Principal => Simple Interest = (160/100)P - P = 60P/100. Simple Interest = (P x R x T)/100 => (60P/100) = (P x R x 8)/100 => R = 60/8 = 15/2 = 7.5. He invests Rs. 9600. Therefore, Simple Interest after 4 years: SI = (9600 x 7.5 x 4)/100 = 2880. Therefore, the Simple Interest received by the man is Rs. 2880.