Rs 6400 were lent to Feroz and Rashmi at 15% per annum for 3 1/2 and 5 yr, respectively. The difference in the interests paid by them is Rs 150.

Question

State whether the statement are True or False.

Rs 6400 were lent to Feroz and Rashmi at 15% per annum for 3 1/2 and 5 yr, respectively. The difference in the interests paid by them is Rs 150.

Answer 1

False,

Given, Feroz borrowed ₹6400 for 3 1/2 yr at 15%

Here,

Difference between interests = 4800 - 3360 = ₹1440

Hence, the difference in interest, paid by them is ₹1440.