Question
Rina lent Rs. 18,000 to her brother at a compound interest rate of 'y%' per annum, compounded annually. After one year, her brother paid her Rs. 19,440 to clear his debt. If Rina had lent the money at simple interest of (y + 4)% per annum instead, for the same period, how much interest would she have earned?
Now, compute the interest with simple interest formula at (y + 4)%: Hence, Required interest = 
Rs.2160 She would have earned Rs. 2160 in interest.More Simple and compound interest Questions
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