Multiple Choice Questions on The difference between the simple interest and compound interest compounded annually on Rs 40 000 fo........... for SSC CGL Exam Preparation

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Multiple Choice Questions

The difference between the simple interest and compound interest compounded annually on Rs 40 000 fo...........

Quantitative Aptitude (CGL) Compound Interest
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    The difference between the simple interest and compound interest (compounded annually) on Rs. 40,000 for 3 years at 8% per annum is

    Rs.684.32

    Incorrect Answer

    Rs.788.48

    Correct Answer

    Rs.784.58

    Incorrect Answer

    Rs.4000

    Incorrect Answer
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    Explanation:

    SI= PRT/100; => SI = 40000*8*3/100 = Rs. 9600;
    CI = A[(1+r/100)n-1];
    CI= 40000[(1+8/100)3-1]= Rs. 10388.48
    Hence, the difference between the interests= 10388.48-9600=Rs. 788.48

    By: MIRZA SADDAM HUSSAIN
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