Question

Sohan deposited ₹6,000 in a bank at 15/2% per annum for 3 years. Mohan deposited ₹6,000 in another bank at 11% per annum for 5/2 years ...
Who will get more simple interest???
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guys please give answer in detailing...​

Answer 1

Sohan : P=Rs6000,T=3years=R=15/2=7.5%

SI=PRT/100 =6000×3×7.5/100=1350Rs

Mohan:

P=6000,T=5/2=2.5years,R=11%

SI=6000×2.5×11/100=1650Rs

So Mohan will get more interest.