7. What is the difference between simple interest on * 5,000 at 8% per annumfor 3 years and simple interest on 4,000 at 4%% per annum for 8 years?(2016) ABC(A) 60 (B) 40 (C) 20 (D) 30 About the author Serenity

simple intrest = principal×time×rate/100

5000×3×8/100 =120

amount= 5000+120

=5120