Question 64
Arun wants to pay Rs.16000 cash for a colour television and Bala wants to purchase the same for Rs.17776, due after 2 years. If the rate of Simple Interest is 5% per annum, which of the deals is better for the shopkeeper?
Solution
SI = ( P * R * T )/100
P = Rs.16000
R = 5%
T = 2 Years
For Arun , SI = ( 16000*5*2)/100 = 1600
Amount = 16000 + 1600 = 17600 rs
For Bala, 17776
So automatically , Bala is a better option.
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