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Number System

Quick practice

Question 1 of 5

Mangal and Aman both opened fixed deposits in a bank on the same day of Rs. 2 lakhs and Rs. 2.5 lakhs respectively for a tenure of 2 years. The rate of interest offered by the bank is 10% per annum compounded annually. At the end of the first year, Mangal opened another fixed deposit of Rs. 1 lakh for one year at the same rate of interest. How much less interest (in Rs.) did Mangal earn on his two fixed deposits together than Aman did on his one fixed deposit at the end of two years?

A

1000

B

500

C

None of these

D

50000

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