The difference between the compound interest and simple interest accrued on an amount at the end of ...
The difference between the compound interest and simple interest accrued on an amount at the end of three years at the rate of 12% is Rs.381.888. What is the amount?
Answer/Solution
Rs.8500
Steps/Work
Explanation:
C.I = P[(1+R/100)T - 1]
= P[(1+12/100)3 - 1] = P[(28/25)3 - 1]
= P[(21952/15625) - 1]
= 6327P/15625
S.I = (P x 3 x 12)/100 = Rs. 9P/25
6327P/15625 - 9P/25 = 381.888
=> 702P/15625 = 381.888
=> P = (381.888 x 15625)/702
= Rs. 8500
Answer: Option C
C.I = P[(1+R/100)T - 1]
= P[(1+12/100)3 - 1] = P[(28/25)3 - 1]
= P[(21952/15625) - 1]
= 6327P/15625
S.I = (P x 3 x 12)/100 = Rs. 9P/25
6327P/15625 - 9P/25 = 381.888
=> 702P/15625 = 381.888
=> P = (381.888 x 15625)/702
= Rs. 8500
Answer: Option C