Question

S Kavita and Priyank borrowed 6500 each at the rate of 13% per annum for a period of 2
years and 3 years respectively. Find the difference in the interests paid by them?
of 11% ner anum and pays back​

Answer 1

Answer:

simple interest = P * T * R

100

P = Principle R = Rate of interesr T = Years

1) Kavitha's :-

P = 6500. R = 13% T = 2 years

SI = 6500 * 13 * 2

100

S I = 1690/-

2) Priyank's :-

P = 6500. R = 13% T = 3 years

SI = 6500 * 13 * 3

100

SI = 2535

Difference = 2535 - 1690 = 845 /-