The rate of interest is reduced from 6% to 4%. What would be the difference (in Taka) in the total amount of simple interest for 500 in 3 years?

The rate of interest is reduced from 6% to 4%. What would be the difference (in Taka) in the total amount of simple interest for 500 in 3 years?

A 20

B 30

C 40

D 50

Solution

Correct Answer: Option B