Question

1)Equal sums of Rs. 7200 were lent to Amit and Sumit at 5% per annum for a period of 3 years and 4 years respectively. Find the difference of the interest paid by Amit and Sumit? *​

Answer 1

Answer:

for Amit

p=7200

r =5%

t=3yrs

SI = (P×R×T)/100

= ( 7200×5×3)/100

= ₹ 1080

for sumit

p= 7200

r= 5%

t= 4yrs

SI =(P×R×T)/100

=(7200×5×4)/100

= ₹ 1440

difference = 1440 -1080

= ₹ 360