Multiple Choice Questions on If the difference between Simple Interest and Compound Interest at 10 p a rate of interest for 3 yea........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

If the difference between Simple Interest and Compound Interest at 10 p a rate of interest for 3 yea...........

Quantitative Aptitude ( CCS) Compound Interest
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    If the difference between Simple Interest and Compound Interest at 10% p.a rate of interest for 3 years is Rs. 930, then find the Sum.

    Rs 25,000

    Incorrect Answer

    Rs 30,000

    Correct Answer

    Rs 35,000

    Incorrect Answer

    Rs 40,000

    Incorrect Answer
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    Explanation:

    On SI, Rate for 3 years=3*10=30%
    On CI rate for 3 years – 10%=1/10
    10—–11
    10—–11
    10—–11
    1000—-1331
    =1331-1000/1000 *100=33.1%
    Difference=33.1-30=3.1%
    3.1%=930
    100%=Rs 30,000

    Hence, option 2 is the correct answer.

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