seema and Puja borrowed rs.60000 and rupees 50000 respectively for a period of three years. Seema paid simple interest at the rate of 10% per annum, while Puja paid compound interest at the rate of 10% per annum, compounded annually. who paid more interest and by how much?
Answers
Answer:
seema is paid Rs.3000 more interest than puja.
Step-by-step explanation:
SEEMA
principal = Rs.60,000
rate = 10% per annum
time = 3years.
simple interest = P×R×T/100
= 60000×10×3/100
= 6000×3= Rs.18000
PUJA
principal = Rs.50,000
rate = 10% per annum
time = 3years
simple interest = P×R×T/100
= 50000×10×3/100
= Rs.15000
seema is paid more interest than puja.
By how much = 18000- 15000= 3000 (ans.)
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