Question

Ritu and Jitu both deposited Rs 100 in a Bank. Ritu deposited for 5 years with interest rate 8% per year and Jitu deposited for 4 years with interest rate 9% per year. Who will get more interest? By how much?

Answer 1

Explanation:

Step 1

For Ritu,

Principal(P) = Rs 100

Time(T) = 5 year

Rate(R) =8%pa

Intrest (I) = ???

We know,

I = P*T*R /100

= 100*8*5/100

=Rs40

now

For Jitu,

Principal(P) =Rs 100

Rate(R)=9%pa

Time (T) = 4 year

Intrest(I) =?

We have

I = P*T*R/100

=100*4*9/100

=Rs36

Step 2

We have

Intrest of Ritu have more then that of Jitu so she makes more profit

now Profit diffrence =Rs40-Rs36

=Rs4

Therefore Ritu gets 4 more profit then Jitu