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Saikat

· started a discussion

· 1 Months ago

Wrong Calculation (Question:565197.0)

Please check it again....

Question:

A person Invested some money at the rate of 6% simple Interest. At the end of three years, he got \(\unicode{x20B9} \)900 as simple interest. If he put the same principal at the same rate under compound interest, how much more interest would he get in three years?

Options:
A) \(\unicode{x20B9} \)38.13
B) \(\unicode{x20B9} \)25.33
C) \(\unicode{x20B9} \)55.08
D) \(\unicode{x20B9} \)35.30
Solution:
Ans: (c) Since S.1. for 3 years = \(\unicode{x20B9} \)900

Therefore, S.I. for 1 year= \(\unicode{x20B9} \)300

Let initial principal = P

Now 6% of = P 

\(\Rightarrow\) P = \(\unicode{x20B9} \)5,000

C.I. for 1 year = 6% of 5,000 = \(\unicode{x20B9} \)300

C.I. for 2nd year = 6% of (5000 + 300) = \(\unicode{x20B9} \)318

C.l. for 3rd year = 6% of (5000 + 300 + 318) = \(\unicode{x20B9} \)337.08

Difference between C.l. and S.l. for 3 years = (337.08 + 318 + 300) - 900 = \(\unicode{x20B9} \)55.08

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