Home
Class 8
MATHS
Q and R borrowed Rs. 26000 and Rs. 25000...

Q and R borrowed Rs. 26000 and Rs. 25000 respectively, for a period of 2 years. Q paid simple interest at the rate of 2% per annum, while R paid compound interest at the same rate, compounded annually. Who paid more interest and by how much ?

Text Solution

Verified by Experts

The correct Answer is:
`therefore` Q paid more interest by Rs 30.
Promotional Banner

Topper's Solved these Questions

  • SIMPLE INTEREST AND COMPOUND INTEREST

    PEARSON IIT JEE FOUNDATION|Exercise EXAMPLE 9.18|1 Videos

  • SIMPLE INTEREST AND COMPOUND INTEREST

    PEARSON IIT JEE FOUNDATION|Exercise EXAMPLE 9.19|1 Videos

  • SIMPLE INTEREST AND COMPOUND INTEREST

    PEARSON IIT JEE FOUNDATION|Exercise EXAMPLE 9.16|1 Videos

  • SETS

    PEARSON IIT JEE FOUNDATION|Exercise CONCEPT APPLICATION (LEVEL 3) |8 Videos

  • SQUARES AND SQUARE ROOTS AND CUBES AND CUBE ROOTS

    PEARSON IIT JEE FOUNDATION|Exercise Level 3|7 Videos

Similar Questions

Explore conceptually related problems

Suresh and Naresh borrowed Rs. 62500 and Rs. 60000 respectively for a period of 2 years. Suresh paid simple interest at the rate of 4% per annum, while Naresh paid compound interest at the same rate compounded annually. Who paid more interest and by how much ?

A and B borrowed Rs 600 and Rs 500 respectively for a period of 3 years. A paid simple interest at the rate of 10% per annum, while B paid compound interest at the rate of 10% per annum compounded annually. Who paid more interest and by how much?

A and B borrowed Rs. 2000 and Rs. 3000 respectively at the same rate of interest for 2(1)/(2) years. If B paid Rs. 125 more interest than A, find the rate of interest.

Fabina borrows Rs 12,500 at 12% per annum for 3 years at simple interest and Radha borrows the same amount for the same time period at 10% per annum,compounded annually.Who pays more interest and by how much?

If Rs 12000 is invested for two years at compound interest (compounded annually ) at the rate of 20% per annum, then what is the interest ?

The simple interest and compound interest on a certain sum for 2 years are Rs. 2400 and Rs. 2640 respectively. The rates of interests (in % per annum) for both are the same. The interest on the sum lent at compound interest is compounded annually. Find the rate of interest (in % per annum).

PEARSON IIT JEE FOUNDATION-SIMPLE INTEREST AND COMPOUND INTEREST -EXAMPLE 9.17
  1. Q and R borrowed Rs. 26000 and Rs. 25000 respectively, for a period of...

    Text Solution

    |