Question

What will be the difference between the interest accrued on a sum of Rs. 1840 at $8 \%$ p.a. for 2 years and that on a sum of Rs. 1960 at $6 \%$ p.a. for 3 years?

• A. Rs. 58.4
• B. Rs. 42.6
• C. Rs. 34.8
• D. Rs. 62.6

Answer 1

Answer: (A)

Here, $\mathrm{P}=$ Rs. $1840 ; \mathrm{R}=8 \%$ p.a; Time $=2$ years
$\text { S.I. }=\frac{\mathrm{P} \times \mathrm{R} \times \mathrm{T}}{100}=\frac{1840 \times 8 \times 2}{100}=\text { Rs. } 294.4$
Also, $P_1=$ Rs. $1960 ; R_1=6 \%$ p.a.; $T_1=3$ years
$\text { S.I. }=\frac{P_1 \times R_1 \times T_1}{100}=\frac{1960 \times 6 \times 3}{100}=\text { Rs. } 352.8$
Required difference $=$ Rs. $(352.8-294.4)=$ Rs. 58.4