Answer:
From the above calculation it is clear that The interest earn by Monica is less than the The interest earn by Paul , so Monica is wrong
Step-by-step explanation:
Given as :
The principal amount deposited by Monica in account = $ 400
The rate of interest = 4.4 % at simple interest
The time period = 1 years
Let The interest earn by Monica = $ x
<u>From simple interest </u>
Simple Interest =
Or, $ x =
Or, x = $ 17.6
So, The interest earn by Monica = x = $ 17.6
Again
The principal amount deposited by Paul in account = $ 500
The rate of interest = 3.6 % at simple interest
The time period = 1 years
Let The interest earn by Paul = $ y
<u>From simple interest </u>
Simple Interest =
Or, $ y =
Or, y = $ 18
So, The interest earn by Paul = y = $ 18
∴ As The interest earn by Paul The interest earn by Monica
Hence from the above calculation it is clear that The interest earn by Monica is less than the The interest earn by Paul , so Monica is wrong Answer
