Question

A sum of Rs. 4.75 lakhs was invested in Company Q in 1999 for one year. How much more interest would have been earned if the sum was invested in Company P?

• A. Rs. 19,000
• B. Rs. 14,250
• C. Rs. 11,750
• D. Rs. 9500

Answer 1

The correct option is D Rs. 9500

Difference = Rs. [(10% of 4.75) - (8% of 4.75)] lakhs
= Rs. (2% of 4.75) lakhs
= Rs. 0.095 lakhs
= Rs. 9500.