Processing math: 100%


1)

The difference between simple and compound interest on a certain sum of money for 3 years at 10% p.a. is Rs. 15.50. Find the sum.


A) Rs.300

B) Rs.400

C) Rs.500

D) Rs.1000

E) Rs.800

Answer:

Option C

Explanation:

The difference in C.I. and S.I. for 3 years is given by

C.I.S.I =P{(R100)3 +3(R100)2}

1512 =P{(10100)3 +3(10100)2}

312 =P[11000+3100]

P =312×100031 = Rs. 500.