Question

Rajini and Mohini deposited ₹ 3000 and ₹ 4000 in a company at the rate of 10% per annum for 3 years and 2½ years respectively. The difference of the amounts received by them will be

(a) ₹ 100 

(b) ₹ 1000

(c) ₹ 900 

(d) ₹ 1100

Answer 1

(d) ₹ 1100

From the question it is given that,

Money deposited by Rajini = ₹ 3000

Time = 3

Rate = 10%

Then, we know the formula of Simple interest I = (P × R × T)/100

I= (3000× (10) × 3)/100

I = ₹ 900

Amount = P + I

= 3000 + 900

= ₹ 3900

Now,

Money deposited by Mohini = ₹ 4000

Time = 2½ = 5/2

Rate = 10%

Then, we know the formula of Simple interest I = (P × R × T)/100

I= (3000× (10) × (5/2))/100

I = ₹ 1000

Amount = P + I

= 4000 + 1000

= ₹ 5000

The difference of the amounts received by them will be = 5000 – 3900

= ₹1100