The difference between the simple interests on the principal of ₹500 at an interest rate of 5% per annum for 3 years and 4% per annum for 4 years is:

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Accepted Answer

Step 1: Calculate simple interest at 5% for 3 years.
Simple Interest (SI) = (P × R × T) / 100
= (500 × 5 × 3) / 100 = 75

Step 2: Calculate simple interest at 4% for 4 years.
SI = (500 × 4 × 4) / 100 = 80

Step 3: Find the difference between the two interests.
Difference = 80 - 75 = 5

Rechecking the calculation shows the difference is ₹5, so the correct answer is ₹5.

Note: The initial calculation shows ₹5, but the options have ₹15 as first. Let's verify carefully:

SI1 = (500 × 5 × 3)/100 = 75
SI2 = (500 × 4 × 4)/100 = 80
Difference = 80 - 75 = 5

Therefore, the correct answer is ₹5.

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