A) Both paid the same amount as interest
B) Nanoo paid Rs. 1 more as interest
C) Meenu paid Rs. 5 more as interest
D) Meenu paid Rs. 5 less as interest
Correct Answer: B
Solution :
[b] Nanoo?s interest for an year at 10% compounded half yearly \[=400{{\left( 1+\frac{5}{100} \right)}^{2}}-400\] \[=\frac{400\times 21\times 21}{20\times 20}-400\] = Rs. 441 ? 400 = Rs. 41 Meenu?s interest at simple interest \[=\frac{400\times 10\times 1}{100}=Rs.\,\,40\] Thus, Nanoo Paid 41 ? 40 = Rs. 1 more
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