Question

Aman borrow rupees 14500 11% per annum for 3 years at simple interest and Tarun borrow the same amount at 10% per annum for the same time compounded annually who pay more interest and by how much

Answer 1

aman principal is 14500.rate of interest is 11%.and the number of year is 3 .
then
S.I=PRN/100
then
14500×11×3/100
=3885
this is an aman simple interest.
then tarun S.I is
14500×10×3/100
=4350
the S.I of Aman is 3885 and Tarun is 4350
then
4350-3885=465
S.I of Aman greater than tarun by RS.465