If a sum of ₹5,000 is taken at a simple rate of interest of 15% per annum for 3 years and another sum of ₹8,000 is taken at a simple interest of 12% per annum for 4 years, the positive difference of the interests paid is:
Question:
If a sum of ₹5,000 is taken at a simple rate of interest of 15% per annum for 3 years and another sum of ₹8,000 is taken at a simple interest of 12% per annum for 4 years, the positive difference of the interests paid is:
If a sum of ₹5,000 is taken at a simple rate of interest of 15% per annum for 3 years and another sum of ₹8,000 is taken at a simple interest of 12% per annum for 4 years, the positive difference of the interests paid is:
Options
Answer: (2) ₹1,590
Explanation:
SI1 = 5000 × 15 × 3 / 100 = 2250. SI2 = 8000 × 12 × 4 / 100 = 3840. Difference = 3840 - 2250 = 1590.
Explanation:
SI1 = 5000 × 15 × 3 / 100 = 2250. SI2 = 8000 × 12 × 4 / 100 = 3840. Difference = 3840 - 2250 = 1590.
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