Multiple Choice Questions on If the difference between Simple Interest and Compound Interest at 20 rate of Interest in 3 years is........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

If the difference between Simple Interest and Compound Interest at 20 rate of Interest in 3 years is...........

Quantitative Aptitude ( CCS) Compound Interest
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    If the difference between Simple Interest and Compound Interest at 20% rate of Interest in 3 years is 5120, then find the sum.

    Rs 40,000

    Correct Answer

    Rs 50,000

    Incorrect Answer

    Rs 60,000

    Incorrect Answer

    Rs 30,000

    Incorrect Answer
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    Explanation:

    On SI interest=20% *3 =60%
    On CI interest =20%= 1/5
    5——-6
    5——-6
    5——-6
    ________
    125—-216
    (216-125)/125*100=72.8%
    diff=72.8-60=12.8%
    12.8%=5120
    100%=40,000

    Hence, option 1 is the correct answer.

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