Question

equal sums of rupees 7200 for lent to Amit and Sumit at 5% per annum for a period of 3 years and 4 years respectively find the difference of interest paid by Amit and Sumit

Answer 1

360Rs @ SI
7200@5% for a year=360 Rs.
Since the time difference is 1 year, the diff in SI will be 360 RS

Answer 2

for amit
principle =7200
rate=5%per annum
time= 3 years
s=p×r×t/100=7200×5×3/100=1080
again, for sumit
principle =7200
rate=5% per annum
time=4years
s=p×r×t/100=7200×5×4/100=1440
again,
difference of interest paid by amit and sumit=1440_1080=360