7. What is the difference between simple interest on 3 5,000 at 8% per annum for 3/2 years and simple interest on 34,000 at 4"/% per annum for 8 years? (
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Answer:
SIMPLE INTEREST 1st_principal ×Rate of interest × time/100.
=_35,000_×_8_×_3_
100 × 2
=350 × 4 × 3
=₹ 4200.
SIMPLE INTEREST 2nd_principal ×Rate of interest × time/100.
=_34,000_×_4_×_8_
100
=340 × 4 × 8
=₹ 10,880
DIFFERENCE between these interests.
Simple interest 2nd - Simple interest 1st
= ₹10,880
-- ₹ 4,200
__________
₹ 6,680
difference of ₹6680 lies between these two interests.
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