1.

For 3 years, the difference between simple interest and compound interest is Rs. 616 at 8% per annum. Find the compound interest in 2 years at the same rate of interest at same sum.1. Rs. 22402. Rs. 41503. Rs. 52004. Rs. 1250

Answer» Correct Answer - Option 3 : Rs. 5200

Given:

For 3 years, the difference between simple interest and compound interest = Rs. 616

Rate = 8%

For compound interest, time = 2 years.

Concept used:

C.I. = P{(1 + R/100 )T – 1}

D = P × (R/100)2(300 + R)/100

S.I. → Simple interest

P → Principal

T → Time

R → Rate%

C.I. → Compound interest

D → Difference between S.I. and C.I. for 3 years difference,

Calculations:

D = P × (R/100)2(300 + R)/100

⇒ 616 = P × (8/100)2(300 + 8)/100

⇒ 616 = P × (64/10000) × (308/100)

P = (616 × 10000 × 100)/(308 × 64)

⇒  Rs. 31,250

At the same sum,

C.I. = P{(1 + R/100 )– 1}

⇒ 31250{(1 + 8/100)2 – 1}

⇒ 31250 × {(108/100) × (108/100) – 1}

⇒ 31250 × {(11664/10000) – 1}

⇒ 31250 × (1664/10000)

⇒ Rs. 5200 

∴ The compound interest is Rs. 5200



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