Question

9. Mr Das invested Rs 20,000 at a simple interest rate of 10% per annum for 3 years while Mr Sinha
invested the same sum at the compound interest rate of 15% for 2 years. Who will earn more
interest and by how much?​

Answer 1

Mr. Das.

P = 20,000

R = 10 %

N = 3 years

I = ?

I = PRN

100

I = 20000 X 10 X 3

100

I = 6000

Mr. Sinha

P = 20,000

R = 15 %

N = 2 years

I = ?

I = PRN

100

I = 20000 X 15 X 2

100

I = 6000

ANS : Mr. DAS & Mr. Sinha have same Interest.

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