Multiple choice

Equal sums of Rs.$7200$ were lent to Megha and Priya at $5$ $\%$ per annum for a period of $4$ years and $5$ years respectively. Find the difference of the interest paid by Megha and Priya.

  1. Rs.$140$
  2. Rs.$560$
  3. RS.$260$
  4. Rs.$360$
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D Correct answer
Explanation

Interest Megha = (7200*5*4)/100 = 1440. Interest Priya = (7200*5*5)/100 = 1800. Difference = 1800 - 1440 = 360.

AI explanation

Calculate the interest paid by Megha using the simple interest formula, which is (7200 * 5 * 4) / 100 = Rs.1440. Calculate the interest paid by Priya as (7200 * 5 * 5) / 100 = Rs.1800. The difference between their interests is 1800 - 1440 = Rs.360.

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