New Upcoming Legal Jobs Free Workshop March 11 at 5 PM. Register here

    Question

    The difference between simple and compound interest on a

    sum of Rs.1000 at the end of two years is Rs10. Find the total CI on a sum after 3 years is?
    A 331 Correct Answer Incorrect Answer
    B 250 Correct Answer Incorrect Answer
    C 300 Correct Answer Incorrect Answer
    D 123 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    ATQ, Rate of interest = √[(10 × 100 × 100)/1000] = 10% Therefore CI at the end of the 3 years will be = [1000(1 + (10/3))3] - 10000 = 1331 - 1000 = 331 

    Practice Next

    Relevant for Exams: