1(iv)
A and B opened a recurring deposit account in a bank which is paying simple interest at 9% per annum. A deposited ₹ 1,500 for one year and B deposited ₹ 1,200 for 15 months. The amount invested by :
- (a)A is ₹ 27 more than B
- (b)A is ₹ 300 more than B
- (c)A is ₹ 300 less than B
- (d)Both A and B are same (₹ 18,000)
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Given,
For A,
P = ₹ 1,500
n = 12 months
r = 9%
We know that,
Amount Invested = P × n
= ₹ 1,500 × 12
= ₹ 18,000.
For B,
Amount Invested = P × n
= ₹ 1,200 × 15
= ₹ 18,000.
Both invested ₹ 18,000.
Hence, option 4 is the correct option.