Avinash gave a sum of 5400 at the simple rate of interest of 8% to Rajeev for 4

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Question
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?
Options
A. Rs. 364
B. Rs. 432
C. Rs. 498
D. Rs. 554

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 = $\frac{2 x 5400 x 4}{100} = 432$

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

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