A person deposited a sum of of Rs 6000 in a bank at 5% per annum simple interest

Question

A person deposited a sum of of Rs 6000 in a bank at 5% per annum simple interest. Another person deposited Rs 5000 at 8% per annum compound interest. After two years, the difference of their interest will be = ?

Options:

A . Rs. 230

B . Rs. 232

C . Rs. 832

D . Rs. 600

Answer: Option B

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