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What is B's gain over A if B reinvest amount for half a quarter and reinvest again where A invest for the whole quarter?

0 votes

A banks pays interest @ 8 percent p.a on a deposit for half a quarter as well as on the deposit for one quarter. A makes a deposit of 25 lakhs for a quarter. B makes a deposit of 25 lakhs for half a quarter,and after maturity reinvests the entire amount for half a quarter What is B's gain over A?.

posted Jan 8, 2016 by anonymous

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1 Answer

+1 vote

A's Interest=25lacs*8%(1/4)=50000
B's Interest =25lacs*8%(1/8)=25000
B's Interest =25.25lacs*8%(1/8)=25250
B's total interest =25000+25250=50250
B's Gain over A=50250-50000=250
Ans is 250

answer Jan 8, 2016 by Jaikumar Bhatia

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