Find the difference between the compound interest and simple interest when a sum of Rs 15 625 is inv...........

Quantitative Aptitude (CPO) Compound Interest

Find the difference between the compound interest and simple interest when a sum of Rs.15,625 is invested for 3 years at 4% per annum.

This questions was previously asked in

SSC CPO 10th Nov 2022 Shift 3

Rs.76

Rs.96

Rs.56

Rs.86

Correct option 1: 76

Principal amount= Rs 15, 625, t= 3 years, R= 4% per annum

S.I. = PRT/100

A= P(1+R/100)^t

A = P + C.I.

S.T. = ( !5625x4x3)/100= 1875

Now, We have

A= P(1+R/100)^t

A= 15625(1+ 4/100)³

= 17576

Now,

C.I. = A - P

= !7576- 15625 = 1951

Now,

Difference between C.I. and S.I. = 1951 -1875 = 76.

Hence Answer = Rs. 76

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