Two equal amounts are deposited in two banks, | vedclass

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(C) Let the principal amount be $P$. Simple Interest formula is $SI = \frac{P 	imes R 	imes T}{100}$. Interest for the first bank ($T_1 = 3.5$ years

Vedclass · Accepted Answer

$6400$

Vedclass · Answer

(C) Let the principal amount be $P$. Simple Interest formula is $SI = \frac{P 	imes R 	imes T}{100}$. Interest for the first bank ($T_1 = 3.5$ years): $SI_1 = \frac{P 	imes 15 	imes 3.5}{100} = 0.525P$. Interest for the second bank ($T_2 = 5$ years): $SI_2 = \frac{P 	imes 15 	imes 5}{100} = 0.75P$. The difference between the interests is $SI_2 - SI_1 = 1440$. $0.75P - 0.525P = 1440$. $0.225P = 1440$. $P = \frac{1440}{0.225} = 6400$. Thus,each sum is ₹ $6400$.

Two equal amounts are deposited in two banks,each at $15 \%$ per annum,for $3 \frac{1}{2}$ years and $5$ years respectively. If the difference between their interests is ₹ $1440$,each sum is (In ₹):

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