Multiple Choice Questions on The different between the compound interest and the simple interest on a creating sum of money at 10........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

The different between the compound interest and the simple interest on a creating sum of money at 10...........

Quantitative Aptitude ( CCS) Compound Interest
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    The different between the compound interest and the simple interest on a creating sum of money at 10% per annum for 3 years is Rs.46.50. Find the sum.

    Rs.1700

    Incorrect Answer

    Rs.1600

    Incorrect Answer

    Rs.1500

    Correct Answer

    Rs.1400

    Incorrect Answer
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    Explanation:

    Let the sum be Rs.x. then S.I.=(x*10*3 / 100) = 3x/10
    C.I = [x(1+10/100)^3 -x] = 331x/1000
    331x/1000 - 3x/10 = 46.50 
    = 31x/1000 = 46.50 
    = x = 1500

    Hence, option 3 is the correct answer.

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