Q and R borrowed Rs.26000 and Rs. 25000 respectively for a period of 2 years. Q paid simple interest at the rate of 2% p.a. while R paid compound interest at the same rate compounded annually Who paid more interest and by how much ?

R paid more than Q by Rs.40

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R paid more than Q by Rs.30

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Q paid more than R by Rs.40

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Q paid more than R by Rs.30

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Solution

The correct option is D Q paid more than R by Rs.30
Q paid intt = $\frac{26000 \times 2 \times 2}{100} = R s 1040$
R paid intt = $25000 {(1 + \frac{2}{100})}^{2} - 25000 = 25000 (\frac{102}{100}) (\frac{102}{100}) - 25000 = R s 1010$
Diff of intt=1040-1010=Rs 30
Then Q paid more than R by Rs.30

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Q and R borrowed Rs.26000 and Rs. 25000 respectively for a period of 2 years. Q paid simple interest at the rate of 2% p.a. while R paid compound interest at the same rate compounded annually Who paid more interest and by how much ?

The correct option is D Q paid more than R by Rs.30Q paid intt =26000×2×2100=Rs1040R paid intt =25000(1+2100)2−25000=25000(102100)(102100)−25000=Rs1010Diff of intt=1040-1010=Rs 30Then Q paid more than R by Rs.30

The correct option is D Q paid more than R by Rs.30
Q paid intt = $\frac{26000 \times 2 \times 2}{100} = R s 1040$
R paid intt = $25000 {(1 + \frac{2}{100})}^{2} - 25000 = 25000 (\frac{102}{100}) (\frac{102}{100}) - 25000 = R s 1010$
Diff of intt=1040-1010=Rs 30
Then Q paid more than R by Rs.30