Question

Mr Thomas invested rupees 20000 at simple interest rate of 10% per annum for 3 year while Mr Sinha invested the same sum at the compound interest rate of 15% for 2 years who will earn more interest and by how much?
Answer is Rs 450​

Answer 1

Answer:

Sinha earned more interest by ₹450 than Mr thomas.

Step-by-step explanation:

Mr Thomas earned ₹6000 as interest (20000*(10/100)*3).

Sinha earned interest of ₹6450.(20000*0.3225).

hence Sinha earned more interest of ₹450 than Mr thomas.