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Avinash gave a sum of 5400 at the simple rate of interest of 8% to Rajeev for 4 years and Rajeev gave this amount to Chanukya at the rate of 6% for 4 years. Find how much extra amount has to be paid by Rajeev to Avinash after 4 years?

Correct Answer: Rs. 432

Explanation:

Here Avinash gave to Rajeev and Rajeev gave the same to Chanukya


Principal amount and Time is same but the only difference is Rate of interest.


Rajeev took @ 8% and gave it to Chanukya @ 6%


Here the difference in interest rate = 2%


2% of 5400 should be the extra amount paid by Rajeev to Avinash


Required amount = 2   x   5400   x   4 100   =   432


 


Hence, Rs. 432 is the extra amount has to be paid by Rajeev to Avinash after 4 years.


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