Question
Mathematics Question on Compound Interest
A borrowed Rs 10000 each from his friends B and C for 2 years. He was supposed to pay compound interest at 10% per annum to B and simple interest 11% per annum to C. Who charged more interest at the end of 2 years and how much more ?
A
B, Rs 20 more
B
B, Rs 80 more
C
C, Rs 100 more
D
C, Rs 120 more
Answer
C, Rs 100 more
Explanation
Solution
The correct option is (C) :C, Rs 100 more.