A person invested ₹18,000 each in two different schemes for 2 years. One scheme offered 15% p.a. simple interest and the other offered 15% p.a. compound interest, compounded annually. Find the difference between the interest earned from both schemes.

1. A.₹405✓ Correct
2. B.₹456
3. C.₹489
4. D.₹411

More Simple and Compound Interest questions

• → A person borrows ₹20,000 at 8% per annum simple interest for 3 years. What is the total interest he will pay a…
• → The amount at the end of the 2nd and 3rd years on a certain principal at CI is ₹9,680 and ₹10,648 respectively…
• → The difference between the compound interest and simple interest on a sum for 2 years at 10% p.a. is ₹15. What…