Question

6. Karan and Karim borrowed equal sum of 3 7500 from a friend at a rate of
11% per annum. If Karan returns the amount after 3% years and Karim
returns the amount in 4% years, find the difference in the amounts paid by
them.​

Answer 1

Answer:

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Answer 2

Let the amount be given of simple interest

For karan the interest is

SI=7500*11*3.5/100

=2,887.5

Total amount paid=10,387.5

For karim the interest is

SI=7500*11*4/100

=3,300

Total amount paid=10800

The difference in the amount paid by them,

=10800-103875.50

=Rs.412.5