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The difference between the compound interest and simple interest on Rs. Z at 19% annum for 2 years is Rs.108.3. What is the value of Z?1. Rs.30002. Rs.57003. Rs.29004. Rs.3800 |
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Answer» Correct Answer - Option 1 : Rs.3000 Given: C.I. - S.I. = Rs.108.3 Rate (R) = 19% Time = 2 years Formula used: The difference between S.I. and C.I. for 2 years = PR2/(100)2 Where P → Principal R → Rate Calculations: According to the question, The difference between the compound interest and simple interest for 2 years = PR2/(100)2 ⇒ 108.3 = Z × 19 × 19/10000 ⇒ Z = Rs.3000 ∴ The value of Z is Rs.3000. |
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