Question

Radhika and Niharika borrowed rs 21000 and rs 15000 repectively at same rate of simple intrest for 4 years . If Radhika paid rs 1440 more intrest than Niharika, find the rate of intrest per annum.
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Answer 1

Step-by-step explanation:

Radhika borrowed =Rs.12000

i. Principal =Rs.4000,

Time =3years

R=18%p.a.

Now,

Interest=

100

4000×18×3

=Rs.2160

ii. Principal =12000−8000=Rs.4000,

Time =3years

R=15%p.a.

Now,

Interest=

100

8000×15×3

=Rs.3600

Total interest =2160+3600=Rs.5760