Question

which is greater ? interest on rupee 5000 for 6 years at 8%p.a or interest on rupee 5000 for 7yrs at 7%p.a. can u ans by step pls​

Answer 1

Answer:

Interest on capital @6% p.a. and interest on drawing @5% p.a. ... Which is greater? Interest on Rs. 5000 for 7 years at 5% per anum.

Answer 2

Answer:

The interest on the second case ( P= 5000 R = 7% and T = 7 years) is greater.

Step-by-step explanation:

For first case we have,

Principal = Rs.5000

Time = 6 years

rate = 8% p.a.

So, the interest = PxRxT/100

=> 5000 x 6 x 8/ 100 = 50 x 6 x 8 = Rs. 2400

For the second case we have,

Principal = Rs.5000

Time = 7 years

Rate = 7% p. a.

So, the interest = PxRxT/100

=> 5000 x 7 x 7 /100 = 50 x 49 = Rs 2450

HOPE THE EXPLANATION HELPED YOU.