A person invests Rs. 2,00,000 at 12 % p.a. fo | vedclass

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(D) The formula for Simple Interest $(SI)$ is given by: $SI = \frac{P 	imes R 	imes T}{100}$.For the first case:Principal $(P_1) = Rs. 2,00,000$,Rat

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(D) The formula for Simple Interest $(SI)$ is given by: $SI = \frac{P 	imes R 	imes T}{100}$.For the first case:Principal $(P_1) = Rs. 2,00,000$,Rate $(R_1) = 12 \%$,Time $(T) = 1$ year.$SI_1 = \frac{2,00,000 	imes 12 	imes 1}{100} = Rs. 24,000$.For the second case:Principal $(P_2) = Rs. 2,00,000 + 500 = Rs. 2,00,500$,Rate $(R_2) = 13 \%$,Time $(T) = 1$ year.$SI_2 = \frac{2,00,500 	imes 13 	imes 1}{100} = Rs. 26,065$.The additional interest received is $SI_2 - SI_1 = 26,065 - 24,000 = Rs. 2,065$.

$A$ person invests $Rs. 2,00,000$ at $12 \%$ $p.a.$ for $1$ $year$. If he invests $Rs. 500$ more,he is eligible for $13 \%$ $p.a.$ interest. How much more interest (in $Rs.$) would he receive if he accepted the second option?

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