A person deposited a sum 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 -
A
Rs .230
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B
Rs .232
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C
Rs .832
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D
Rs .600
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Solution
The correct option is B Rs .232 C.I. for 1 person =6000×2×5100 =Rs.600 C.I. for II person =5000[(1+8100)2−1] =5000×[2725×2725−1] =5000×[729−625625] =5000×104625 ∴Reqddifference=832−600 =Rs.232