AI Mentor

Check Your IQ

Free Expert Demo

Try Test

Courses

Dropper NEET Course Dropper JEE Course Class - 12 NEET Course Class - 12 JEE Course Class - 11 NEET Course Class - 11 JEE Course Class - 10 Foundation NEET Course Class - 10 Foundation JEE Course Class - 10 CBSE Course Class - 9 Foundation NEET Course Class - 9 Foundation JEE Course Class -9 CBSE Course Class - 8 CBSE Course Class - 7 CBSE Course Class - 6 CBSE Course

Offline Centres

Q.

The CI on a sum of money for 2 years is Rs.832 and the SI on the same sum for the same period is Rs.800. The difference between the CI and SI for 3 years will be:

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

a

Rs.48

b

Rs.66.56

c

Rs.98.56

d

None of these

answer is C.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

JEE

NEET

NEET

Foundation JEE

Foundation JEE

Foundation NEET

Foundation NEET

CBSE

CBSE

Detailed Solution

Concept- Compound interest on a loan or deposit accrues on both the initial principal and the accumulated interest earned
Given the simple interest for 2 years is Rs.800
The simple interest for the first year is Rs.400
And simple interest for Second year is also Rs.400
Compound interest for the first year will be 400
And Compound interest for the Second year will be 832 - 400 = 432
Compound interest for the second year is more than simple interest for 2nd year by 432 - 400 = Rs.32
i.e, Rs. 32 is the interest obtained for Rs.400 for the first year.
Rate,

R = 100 \times \frac{SI}{PT} = 100 \times \frac{32}{400} \times 1 = 8 %

Difference between compound and simple interest for the Third year
= Simple Interest obtained for Rs.832
=

\frac{PRT}{100}

=

\frac{832 \times 8 \times 1}{100}

=Rs. 66.56
Total difference between the compound interest and simple interest for 3 years
= 32 + 66.56 = Rs.98.56
Hence, the correct option is 3.

Watch 3-min video & get full concept clarity

courses

No courses found

Related Blogs

Get ₹ 1 crore* worth scholarship for JEE / NEET / Foundation

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Online Course for IIT JEE

Best Online Course for NEET

Best Online Course for CBSE

Ready to Test Your Skills?

Check your Performance Today with our Free Mock Test used by Toppers!

Take Free Test

Get Expert Academic Guidance – Connect with a Counselor Today!

Related Blogs

Get ₹ 1 crore* worth scholarship for JEE / NEET / Foundation

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Online Course for IIT JEE

Best Online Course for NEET

Best Online Course for CBSE

best study material, now at your finger tips!

live classes
progress tracking
24x7 mentored guidance
study plan analysis

download the app

gplay

mentor

Download the App

gplay

personalised 1:1 online tutoring