Raman borrows Rs. 12,000 for 3 years at 10.5% per annum simple interest; while Rahul borrows the same amount for the same period at 10% compounded annually. Who pays more and by how much ?

Raman borrows Rs. 12,000 for 3 years at 10.5% per annum simple interes

1.	Raman borrows Rs. 12,000 for 3 years at 10.5% per annum simple interest; while Rahul borrows the same amount for the same period at 10% compounded annually. Who pays more and by how much ?
A.	Raman, Rs. 132
B.	Raman, Rs.145
C.	Raman, Rs.158
D.	Rahul, Rs.192
Answer» E.

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Raman borrows Rs. 12,000 for 3 years at 10.5% per annum simple interest; while Rahul borrows the same amount for the same period at 10% compounded annually. Who pays more and by how much ?

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