A borrows ₹89,500 for 3 years at 7% p.a. simple interest. B borrows the same amount at simple interest of 9% for the first year, 8% for the second year, and 7% for the third year. What is the total simple interest (in ₹) paid by A and B?
A.45,027
B.47,025
C.40,275✓ Correct
D.42,075
Explanation
SI for A = (89500 × 7 × 3)/100 = ₹18,795. SI for B = (89500 × 9 × 1)/100 + (89500 × 8 × 1)/100 + (89500 × 7 × 1)/100 = ₹21,480. Total = 18,795 + 21,480 = ₹40,275.
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