Question

Rajni and Mohini deposited $Rs.3000$ and $Rs.4000$ in a company at the rate of $10\%$ per annum for 3 years and $2\frac{1}{2}$years respectively. The difference of the amounts received by them will be

• A. $Rs.100$
• B. $Rs.1000$
• C. $Rs.900$
• D. $Rs.1100$

Answer 1

The correct option is D $Rs.1100$

For Rajni,

$Principal=Rs.3000$

$Time=3years$

$Rate=10\%p.a.$

$Interest=\frac{P\times R\times T}{100}$

$=3000\times \frac{10}{100}\times 3$

$\Rightarrow Rs.900$

$Amount=3000+900=Rs.3900$

For Mohini,

$Principal=Rs.4000,$

$Time=\frac{5}{2}years$

$Rate=10$

$Interest=\frac{P\times R\times T}{100}$

$=4000\times \frac{10}{100\times 2}\times 5$

$\Rightarrow Rs.1000$

$Amount=4000+1000=Rs.5000$

Difference in amounts $=5000-3900=Rs.1100$