Question

7. What is the difference between simple interest on 5,000 at 8% per annum for 3/2 years and simple interest on 4,000 at 4% per annum for 8 years? (2016) A (C) 20 (D) 380​

Answer 1

Step-by-step explanation:

Given :-

5,000 at 8% per annum for 3/2 years and simple interest on 4,000 at 4% per annum for 8 years

To find :-

What is the difference between simple interest

on the given periods ?

Solution :-

Given that :

Principle (P) = Rs. 5000

Time (T) = 3/2 years

Rate of interest (R) = 8%

We know that

Simple Interest (SI) = PTR/100

=> SI = (5000×3×8)/(2×100)

=> SI = 25×3×8

=> SI = Rs. 600

Simple Interest = Rs. 600 ----------(1)

Principle (P) = Rs. 4000

Time (T) = 8 years

Rate of interest (R) = 4%

We know that

Simple Interest (SI) = PTR/100

=> SI = (4000×4×8)/100

=> SI = 40×4×8

=> SI = Rs. 1280

Simple Interest = Rs. 1280 ----------(2)

The difference between Simple Interests

=> 1280-600

=>Rs. 680

Answer:-

The difference between Simple Interests for the given problem is Rs. 680

Used formulae:-

• Simple Interest (SI) = PTR/100
• P = Principle
• T = Time
• R = Rate of Interest

Answer 2

Answer:

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