Rajni and Mohini deposited ₹3000 and ₹4000 in a company at the rate of 10% per annum for 3 years and 2 1/2 years respectively. The difference of the amounts received by them will be
(a) ₹100
(b) ₹1000
(c) ₹900
(d) ₹1100
Solution:
Given, Rajni and Mohini deposited ₹3000 and ₹4000 in a company at the rate of 10% per annum for 3 years and 2 1/2 years respectively.
We have to find the difference between the amounts received by them.
Interest, I = P × R × T/100
Amount = Principal + Interest
Amount received by Rajni,
P = ₹3000
R = 10%
T = 3 years
I = 3000 × 10 × 3/100
= 30 × 10 × 3
= 900
Amount = 3000 + 900 = ₹3900
Amount received by Mohini,
P = ₹4000
R = 10%
T = 2 1/2 years = 5/2 years
I = 4000 × 10 × 5/100 × 2
= 40 × 10 × 5/2
= 20 × 10 × 5
= 200× 5
= 1000
Amount = 4000 + 1000 = ₹5000
Difference in amounts = 5000 - 3900
= ₹1100
Therefore, the required difference is ₹1100
✦ Try This: Sham and Dolly deposited ₹5000 and ₹8000 in a company at the rate of 14% per annum for 1 1/2 years and 3 years respectively. The difference of the amounts received by them will be
☛ Also Check: NCERT Solutions for Class 7 Maths Chapter 8
NCERT Exemplar Class 7 Maths Chapter 7 Problem 17
Rajni and Mohini deposited ₹3000 and ₹4000 in a company at the rate of 10% per annum for 3 years and 2 1/2 years respectively. The difference of the amounts received by them will be (a) ₹100, (b) ₹1000, (c) ₹900, (d) ₹1100
Summary:
Rajni and Mohini deposited ₹3000 and ₹4000 in a company at the rate of 10% per annum for 3 years and 2 1/2 years respectively. The difference of the amounts received by them will be ₹1100
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