Question

Equal sums of Rs. 7,200 were lent to Amit and Sanjay at 4% per annum for a period of 4
years and 5 years respectively. Find the difference of the interest paid by Amit and
Sanjay
​

Answer 1

Explanation:

Given that ,Equal sums of Rs. 7,200 were lent to Amit and Sanjay at 4% per annum for a period of 4 years and 5 years respectively

formula: PTR/100

let's calculate amit interst

P= 7,200

T=4 years

R=4%

I= 7,200×4×4/100

I=1252

let's calculate for sanjay

P=7,200

T=5 years

R=4%

I=7,200×4×5/100

I=1440

the difference of the interest paid by Amit and

Sanjay is 1440-1252=188