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7. What is the difference between simple interest on 5,000 at 8% per annum for 3/2 years and simple interest on 4,000 at 4% per annum for 8 years? (2016) A (C) 20 (D) 380 |
| Answer» <html><body><p><strong>Step-by-step <a href="https://interviewquestions.tuteehub.com/tag/explanation-455162" style="font-weight:bold;" target="_blank" title="Click to know more about EXPLANATION">EXPLANATION</a>:</strong></p><h2><u>Given </u><u>:</u><u>-</u></h2><p>5,000 at 8% per annum for 3/<a href="https://interviewquestions.tuteehub.com/tag/2-283658" style="font-weight:bold;" target="_blank" title="Click to know more about 2">2</a> <a href="https://interviewquestions.tuteehub.com/tag/years-1464846" style="font-weight:bold;" target="_blank" title="Click to know more about YEARS">YEARS</a> and simple interest on 4,000 at 4% per annum for 8 years</p><h2><u>To find :-</u></h2><p>What is the difference between simple interest</p><p>on the given periods ?</p><h2><u>Solution</u><u> </u><u>:</u><u>-</u></h2><p>Given that :</p><p>Principle (P) = Rs. 5000</p><p>Time (T) = 3/2 years</p><p>Rate of interest (R) = 8%</p><p>We <a href="https://interviewquestions.tuteehub.com/tag/know-534065" style="font-weight:bold;" target="_blank" title="Click to know more about KNOW">KNOW</a> that</p><p>Simple Interest (<a href="https://interviewquestions.tuteehub.com/tag/si-630826" style="font-weight:bold;" target="_blank" title="Click to know more about SI">SI</a>) = PTR/100</p><p>=> SI = (5000×3×8)/(2×100)</p><p>=> SI = 25×3×8</p><p>=> SI = Rs. 600</p><p>Simple Interest = Rs. 600 ----------(1)</p><p>Principle (P) = Rs. 4000</p><p>Time (T) = 8 years</p><p>Rate of interest (R) = 4%</p><p>We know that</p><p>Simple Interest (SI) = PTR/100</p><p>=> SI = (4000×4×8)/100</p><p>=> SI = 40×4×8</p><p>=> SI = Rs. 1280</p><p>Simple Interest = Rs. 1280 ----------(2)</p><p>The difference between Simple Interests</p><p>=> 1280-600</p><p>=>Rs. 680</p><h2><u>Answer</u><u>:</u><u>-</u></h2><p>The difference between Simple Interests for the given problem is <strong>Rs.</strong><strong> </strong><strong>6</strong><strong>8</strong><strong>0</strong></p><h2><u>Used </u><u>formulae:</u><u>-</u></h2><ul><li>Simple Interest (SI) = PTR/100</li><li>P = Principle</li><li>T = Time</li><li>R = Rate of Interest</li></ul></body></html> | |