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SSC Quantitative Aptitude Simple Interest Question Bank Simple and Compound Interest (II)

  • question_answer
    The difference between compound and simple rates of interest on Rs. 10000 for 3 yr at 5% per annum is

    A) Rs. 76.25

    B) Rs. 76.75

    C) Rs. 76.50

    D) Rs. 76

    Correct Answer: A

    Solution :

    [a] Required difference \[=P{{\left( \frac{r}{100} \right)}^{2}}.\left( \frac{300+r}{100} \right)\] \[=10000{{\left( \frac{5}{100} \right)}^{2}}\left( \frac{305}{100} \right)=\text{Rs}.\,76.25\]


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