Karan and Shashank borrowed 6000 each at the rate of 12% per annum for a period of 2 years and 3 years respectively.Find the difference of interest paid by them.
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P=6000
T1=2years.
R=12%
I1=PTR/100
=6000×2×12/100
=1440
P=6000
R=12%
T2=3years
I2=PTR/100
=6000×12×3/100
=2160
Difference=I2-I1
=720rupees.
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