Question

rustum invested 30000 for 4 years at 9 P.C.P.A in one bank and 20000 for 3 years at 10 P.C.P.A in second bank. which bank he will get more intetrest...​

Answer 1

Answer:

Bank 1:

P = Rs 30,000

T = 4 years

R = 9% p.a.

SI = PRT/100 = 30000 x 4 x 9 / 100 = Rs 10,800

Bank 2:

P = Rs 20,000

T = 3 years

R = 10% p.a.

SI = PRT/100 = 20000 x 3 x 10 / 100 = Rs 6,000

Bank 1 > Bank 2

Hence, Bank 1 gives more interest than Bank 2

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