Question 54

The difference between the compound interest and the simple interest on a sum at 10% p.a. for three years is ₹155. The sum (in ₹) is:

Solution

C.I = $$P\left(1+\frac{R}{100}\right)^2-P$$

S.I = $$\frac{\left(P\times\ R\times\ T\right)}{100}$$

According to Question :

$$\left(P\left(1+\frac{10}{100}\right)^3-p\ \right)-\frac{\left(P\times\ 10\times\ 3\right)}{100}=155$$

$$P=\frac{155000}{31}=5000$$

Hence option d is correct.

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