Question

Akash borrowed Rs 8000 from a bank at 6 % per annum for 3 years at simple interest and Ananya borrowed the same amount for the same period at 10 % per annum at simple interest.

Answer 1

Given:

Akash borrowed ₹8000 from bank at 6 p.c.p.a for 3 years

Ananya borrowed ₹8000 from bank at 10 p.c.p.a for 3 years

To Find :

simple interest

SI = P × R × T

100

Akash's simple interest amount

SI = 8000 × 6 × 3 ( 8000 is divided by 100 )

100

SI = 80 × 6 × 3 = ₹1440

Akash has to pay ₹1440 as interest to bank .

Ananya's simple interest amount

SI = 8000 × 10 × 3

SI = 80 × 10 × 3 = ₹2400

Ananya has to pay ₹2400 as interest to bank .

difference between

Ananya's and Akash's interest

= Ananya's interest - Akash's interest

= 2400 - 1440

= ₹960 .

Answer 2

Answer:

Ananya should pay Rs. 960 more than Akash

Step-by-step explanation:

Given,

Akash

Amount borrowed(P) = 8000

Rate of interest(R_1)= 6%

Time(T) = 3years

Ananya

Amount borrowed (P) = 8000

Rate of interest(R_2)= 10%

Time(T) = 3years

Recall the formula

Simple interest (I)= $\frac{PTR}{100}$

Amount = P +I

Solution:

Amount payable by Akash after 3 years

Amount = P +$\frac{PTR}{100}$

= 8000+ $\frac{8000X3X6}{100}$

= 8000+1440

= 9440

Total amount payable by Akash = Rs. 9440

Amount payable by Ananya after 3 years

Amount = P +$\frac{PTR}{100}$

= 8000+ $\frac{8000X3X10}{100}$

= 8000+2400

= 10400

Total amount payable by Akash = Rs. 10400

∴Ananya should pay Rs. 960 more than Akash

#SPJ2