". Sarita lends two sum each of Rs 2500 to each of her friends for 3 years
charging 8% p.a. at simple interest for one and the same rate percent at
compound interest for the other. Find the difference of interests.
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Shamrao earns an interest of Rs 0.04 x 2000 = Rs. 80 in the Bank of Maharashtra account.
He earns an interest of Rs. 0.14 3000 = Rs. 420 in US – 64.Total interest income = 80 + 420 = 500.
→Total principal = Rs. 5000. So, the rate on total amount = 100 × 500/5000 = 10 %.
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