Rajini and Mohini deposited - 3000 and - 4000 in a company at the rate of 10- per annum for 3 years and 21-2 years respectively- The difference of the amounts received by them will be

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Rajini and Mo...

Question

Rajini and Mohini deposited $₹ 3000$ and $₹ 4000$ in a company at the rate of $10 %$ per annum for $3 y e a r s$ and $2 \frac{1}{2} y e a r s$ respectively. The difference of the amounts received by them will be

$₹ 100$

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$₹ 1000$

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$₹ 900$

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$₹ 1100$

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Solution

The correct option is D
$₹ 1100$

Step 1: Finding the amount received by Rajini
Given that
Money deposited by Rajini (P) $= ₹ 3000$
Time(T) $= 3 y e a r s$
Rate(R) $= 10 %$
We know that
Simple interest (I) $= \frac{(P \times R \times T)}{100}$
$\Rightarrow I = \frac{3000 \times 3 \times 10}{100} = ₹ 900$
Amount $= P + I$
Amount $= 3000 + 900 = ₹ 3900$
Step 2: Finding the amount received by Mohini
Money deposited by Mohini(P) $= ₹ 4000$
Time(T) $= 2 \frac{1}{2} = \frac{5}{2}$
Rate(R) $= 10 %$
Simple interest (I) $= \frac{(P \times R \times T)}{100}$
$I = \frac{4000 \times 10 \times 5}{100 \times 2} = ₹ 1000$
Amount $= P + I = 4000 + 1000 = ₹ 5000$
Step 3: Finding the difference in the amount received by Rajini and Mohini
The difference between the amounts received by them will be $= ₹ 5000 - ₹ 3900 = ₹ 1100$
Hence, the correct option is D

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Rajini and Mohini deposited ₹3000 and ₹4000 in a company at the rate of 10% per annum for 3years and 212years respectively. The difference of the amounts received by them will be

Rajini and Mohini deposited $₹ 3000$ and $₹ 4000$ in a company at the rate of $10 %$ per annum for $3 y e a r s$ and $2 \frac{1}{2} y e a r s$ respectively. The difference of the amounts received by them will be