Kanila lent 6400 to richa and renuka at 15% per annum for 5 years and 3½ years respectively . find the difference between the Simple Interest paid by them.
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The formula of Simple Interest is,
S.I.=(P×R×T)/100
Here, P=Principal (amount of money that is being invested to make interest)
R=Rate of Interest PER ANNUM
T=Total Time.
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