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    Question

    What is the difference between the simple interest

    earned on an investment of Rs. 16,200 for 5.5 years at an annual interest rate of 8%, and the total amount obtained from an investment of Rs. 4,260 at 15% simple interest per annum for 4 years?
    A Rs. 312 Correct Answer Incorrect Answer
    B Rs. 328 Correct Answer Incorrect Answer
    C Rs. 344 Correct Answer Incorrect Answer
    D Rs. 296 Correct Answer Incorrect Answer

    Solution

    Simple received on Rs. 16,200 = 16200 X (5.5 X 8 ├╖ 100) = Rs. 7,128

    Total amount received on investing Rs. 4260 = 4260 + (4260 X 15 X 4 ├╖ 100)

    = 4260 + 2556 = Rs. 6,816

    So, required difference = 7128 - 6816 = Rs. 312

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