Question

    If a sum of ₹5,000 is taken at a simple rate of

    interest of 15% per annum for 3 years and another sum of ₹8,000 is taken at a simple interest of 12% per annum for 4 years, the positive difference of the interests paid is: 
    A ₹1,643 Correct Answer Incorrect Answer
    B ₹1,590 Correct Answer Incorrect Answer
    C ₹1,286 Correct Answer Incorrect Answer
    D ₹1,378 Correct Answer Incorrect Answer

    Solution

    Interest for the first sum:   (SI = {5000  x 15 x 3}/{100} = 2250)   Interest for the second sum:   (SI = {8000 x 12 x 4}/{100} = 3840)  Difference:  (3840 - 2250 = 1590)   Positive difference of interests paid is ₹1,590.

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