14. Rohit borrowed * 40,000 for 2 years at 10%
per annum C.I. and Manish borrowed the
same sum for the same time at 10.5% per
annum simple interest. Which of these two
gives less interest and by how much ?
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14. Rohit borrowed * 40,000 for 2 years at 10%
per annum C.I. and Manish borrowed the
same sum for the same time at 10.5% per
annum simple interest. Which of these two
gives less interest and by how much ?
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Answer:
8400 each
Step-by-step explanation:
Principal = Rs 40,000
Rate = 10%
Time=2 years
C.I = P[(1+R/100)^n -1]
C.I = 40,000[(1+10/100)^2 - 1]
C.I = 40,000[(110/100)^2 - 1]
C.I = 40,000[12,100/10,000 - 1]
C.I = 40,000*2100/10000
So,Rohit got an interst of Rs 8400.
S.I = P×R×T/100
S.I = 40,000×10.5×2/100
S.I = Rs 8400
So, Manish also got an interst of Rs 8400.
Therefore both got equal interest.