Multiple Choice Questions on The difference between C I and S I on a certain sum of money at 10 per annum for 3 years is Rs 620 F........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

The difference between C I and S I on a certain sum of money at 10 per annum for 3 years is Rs 620 F...........

Quantitative Aptitude ( CCS) Compound Interest
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    The difference between C.I. and S.I. on a certain sum of money at 10% per annum for 3 years is Rs. 620. Find the principal if it is known that the interest is compounded annually.

    Rs. 2,00,000

    Incorrect Answer

    Rs. 20,000

    Correct Answer

    Rs. 10,000

    Incorrect Answer

    Rs. 1,00,000

    Incorrect Answer
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    Explanation:

    Diff. between CI and SI =P * r2/1003 * (300+r)
    620=p*100/1003 * 310
    P=Rs20,000

    Hence, option 2 is the correct answer.

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