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    Question

    Sneha invested Rs. 2700 at 15% p.a. for 2 years and Gopal

    invested Rs. 3600 for 1.5 years at 18% p.a. Find how much more interest Sneha received than Gopal.
    A Rs.140 Correct Answer Incorrect Answer
    B Rs.120 Correct Answer Incorrect Answer
    C Rs.200 Correct Answer Incorrect Answer
    D Rs.162 Correct Answer Incorrect Answer

    Solution

    ATQ,

    Since, simple interest = {(sum invested X time X rate)/100} where sum

    invested is in Rs., time in years and rate in percentage per annum

    Interest received by Sneha = {(2700 X 15 X 2)/100} = Rs. 810

    Interest received by Gopal = {(3600 X 18 X 1.5)/100} = Rs. 972

    Required difference = 972 - 810 = Rs. 162

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