Question

Equal sums of Rs. 7200 were lent to Amit and Sumit at 5% per annum for a period of 3 years and 4 years respectively. Find the difference of the interest paid by Amit and Sumit? *

Your answerEqual sums of Rs. 7200 were lent to Amit and Sumit at 5% per annum for a period of 3 years and 4 years respectively. Find the difference of the interest paid by Amit and Sumit? *

Your answer




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Answer 1

360

Step-by-step explanation:

since the principal/sum is same .

interest paid by A = 5 × 3 = 15%

interest paid by S = 5×4 = 20%

difference of interests =20% - 15%= 5%

difference of interests paid by both (in rupees) = 5% of 7200 = Rs 360