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