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If the difference between the simple interest and compound interests on some principal amount at 20% for 3 years is Rs. 48, then the principal amount is
400
375
636
650
Answer with explanation
Answer: Option BExplanation
For three years
Sum = Difference x (100)^3 / r^2(300 + r)
====== >>>> 48 x (100)^3 / 20^2 (300 + 20)
======>>>> Rs. 375
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If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate.
1281
1271
1291
1261
Answer with explanation
Answer: Option DExplanation
Clearly, Rate = 5% p.a., Time = 3 years, S.I.= Rs. 1200. . .
So principal= RS [100*1200] / 3*5 =RS 8000
Amount = Rs. 8000 x [1 +5/100]^3 – = Rs. 9261.
.. C.I. = Rs. (9261 – 8000) = Rs. 1261.
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