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10th Class Mathematics Related to Competitive Exam Question Bank Commercial Mathematics

  • question_answer
    If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 12000, the compound interest on the same sum for the same period at the same rate, is

    A)  Rs. 12600       

    B)         Rs. 12610  

    C)  Rs. 12640       

    D)         Rs. 12650

    Correct Answer: B

    Solution :

      Sum \[=Rs.\left( \frac{100\times 12000}{3\times t5} \right)=Rs.80000\] Assume \[=Rs.\left[ 80000\times {{\left( 1+\frac{5}{100} \right)}^{3}} \right]\] \[=Rs.\,\,92610\] \[\therefore \]   C.I. \[=Rs.(92610-80000)\]                 \[=Rs.12610\]


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