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      Question

      Sameer deposited Rs. 28,000 in fund 'E' and Rs. 36,000 in

      fund 'F'. Fund 'E' gives 13% simple interest for 3 years and fund 'F' gives 11% interest per annum for 4 years. Find how much more interest he earned from fund 'F' than fund 'E'.
      A Rs.4920 Correct Answer Incorrect Answer
      B Rs.5200 Correct Answer Incorrect Answer
      C Rs.8800 Correct Answer Incorrect Answer
      D Rs.6650 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      ATQ,

      We know that, simple interest = {(principal X rate X time) / 100}

      So, simple interest received from 'E' = (28,000 X 0.13 X 3) = Rs. 10,920

      So, simple interest received from 'F' = (36,000 X 0.11 X 4) = Rs. 15,840

      So, required difference = 15,840 - 10,920 = Rs. 4,920

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