Rohan deposited 5,000 at 8% per annum for 3 years and Sunil deposited
5,000 at 6% per annum for four years. Who will get more interest? What amount
will each get?
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Answer:
Principal = Rs.5000
Time = 7/2 years
Rate of interest = 8%
Amount = Principal + Interest = 5000 + 140 = Rs.5140
Case 2 )
Principal = Rs.5000
Time = 4 years
Rate of interest = 6 %
Amount = Principal + Interest = 5000 + 120 = Rs.5120
So, Rohan will get more interest and Rohan will get Rs.5140 and Sunil will get Rs.5120
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