Question
Calculate the difference in the
interest earned by investing Rs. 18,000 and Rs. 15,000 at a simple interest rate of 16% per annum, for a duration of 2 years each.Solution
ATQ, Simple interest = (Principal Γ Rate of interest Γ time period) Γ· 100 So, required dierence = {(18000 Γ 16 Γ 2)/100} - {(15000 Γ 16 Γ 2)/100} = 0.32 Γ (18000 - 15000) = 0.32 Γ 3000 = Rs. 960
More Quant Miscellaneous Questions
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Simplify the following expression:-
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