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Rvndr Gulia

· started a discussion

· 1 Months ago

sir or koi method nhi hai kya (Question: 95346.0 )

Question:
The difference between simple and compound interest for the fourth year is Rs 7280 at 20% p.a. What is the sum?
Options:
A) Rs. 10,000
B) Rs. 50,000
C) Rs. 1,00,000
D) Rs. 40,000 
Solution:

Alternatively:

 

Initially

Ist

Year

IInd

Year

IIIrd

year

IVth

year

SI

10000

12000

14000

16000

18000

CI

10000

12000

14400

17280

20736

CI for 4th  year = 20736—17280 = 3456

SI for 4th  year = 2000

Difference between CI and SI = 1456 for Rs 10000

So, the difference of Rs 7280 is for Rs 50,000

Knowledge Expert

· commented

· 1 Months ago

Dear student,
Given method is correct, please go through it.
Keep learning,
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