Yuvaraj borrowed $30000$ each from two banks, for $3$ years and $5$ years respectively. Find the difference interest paid by him if the rate of interest charged by both banks is $8$ % .

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Solution

Interest paid by him in the first bank $= \frac{P R T}{100}$
$= \frac{30000 \times 3 \times 8}{100}$

$= R s .7200$

Interest paid by him in the second bank $= \frac{P R T}{100}$
$= \frac{30000 \times 5 \times 8}{100}$

$= R s .12000$

Difference $= 12000 - 7200 = R s .4800$

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Yuvaraj borrowed 30000 each from two banks, for 3 years and 5 years respectively. Find the difference interest paid by him if the rate of interest charged by both banks is 8% .

Interest paid by him in the first bank =PRT100=30000×3×8100=Rs.7200Interest paid by him in the second bank =PRT100=30000×5×8100=Rs.12000Difference=12000−7200=Rs.4800

Yuvaraj borrowed $30000$ each from two banks, for $3$ years and $5$ years respectively. Find the difference interest paid by him if the rate of interest charged by both banks is $8$ % .

Interest paid by him in the first bank $= \frac{P R T}{100}$
$= \frac{30000 \times 3 \times 8}{100}$

$= R s .7200$

Interest paid by him in the second bank $= \frac{P R T}{100}$
$= \frac{30000 \times 5 \times 8}{100}$

$= R s .12000$

Difference $= 12000 - 7200 = R s .4800$