alleryFor a ₹10,000 one-year loan, A charges 10% simple interest plus ₹200 fee; B charges 8% plus ₹500 fee. With no other charges, which costs less, and by how much?
AB by ₹100
BA by ₹200
CB by ₹200
DA by ₹100
Answer & Solution
Correct answer: D. A by ₹100
A costs ₹1,000 + ₹200 = ₹1,200, while B costs ₹800 + ₹500 = ₹1,300, so A costs ₹100 less.
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