A deposited Rs 6000 in a bank at 5% Per annum simple interest. B deposited Rs 5

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Question

A deposited Rs 6000 in a bank at 5% Per annum simple interest. B deposited Rs 5000 at 8% P.a Compound interest. After 2 years the difference between their interest will be:

Options:

A . Rs 230

B . Rs 232

C . Rs 600

D . Rs 832

Answer: Option B

S.I = Rs (6000 Ã— 5/100Ã—2)=Rs 600
C.I = Rs [5000 Ã— (1+8/100)²-5000]
= Rs [(5000 Ã— 27/25 Ã—27/25)-5000]
=Rs (5832-5000)=Rs 832
(c.I) “ (S.I) = Rs (832-600) = Rs 232

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