The difference between the interest obtained for Rs. 1000 at 12% …

MCQ

The difference between the interest obtained for $Rs. 1000$ at $12%$ per annum for $3$ years and that for $Rs. 1500$ at $8%$ per annum for $1\frac{1}{2}$ years is:

A
$Rs. 360$
B
$Rs. 300$
✓
$Rs. 180$
D
$Rs. 200$

✓

Answer

Correct option: C.

$Rs. 180$

It is given that,
Sum ($P_1$) $= Rs. 1000$
Rate ($R_1$) $= 12%$
Time ($T_1$) $= 3 years$
$\text{I}_1=\frac{\text{P}_1\ \times\ \text{R}_1\ \times\ \text{T}_1}{100}$
$=\frac{1000\ \times\ 12\ \times\ 3}{100}$
$=\text{Rs. }360\ ...(\text{i})$
Sum ($P_2$) $= Rs. 1500$
Rate ($R_2$) $= 8%$
Time ($T_2$) $=1\frac{1}{2}\ \text{year}=\frac{3}{2}\ \text{year}$
$\text{I}_2=\frac{\text{P}_2\ \times\ \text{R}_2\ \times\ \text{T}_2}{100}$
$=\frac{1500\ \times\ 8\ \times\ 3}{100\ \times\ 2}$
$=\text{Rs. }180\ ...(\text{ii})$
Subtracting $(ii)$ from $(i)$, we get
$I_2 - I_1 = Rs. 360 - Rs. 180$
$= Rs. 180$
Hence, the correct option is $(c).$