Question

Sohan deposited 6,000 in a bank at 7% per annum for three years.
Mohan deposited 6,000 in another bank at 11% per annum for 2 and a half years
Who will get more simple interest?
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Answer 1

Answer:

mohan

Step-by-step explanation:

if you put them into one year you will get

sohan: 21% 1 year

mohan: 27.5% 1 year

so mohan gets more intrest

Answer 2

Answer:

Mohan

Step-by-step explanation:

Simple interest (Sohan) = ( PxTxR)/100

                                       = (6000 x 3 x 7) / 100

                                       = 1260

Simple interest ( Mohan) =  ( PxTxR)/100

                                         = ( 6000 x 2.5 x 11) / 100

                                         = 1650

Mohan gets more simple interest