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

  • question_answer
    The difference between compound interest and simple interest on Rs. 8000 at 5% per annum for 3 yr is

    A) Rs. 50

    B) Rs. 60

    C) Rs. 61

    D) Rs. 600

    Correct Answer: C

    Solution :

    [c] \[SI.=\text{Rs}.\,\,\left( 8000\times \frac{5}{100}\times 3 \right)=\text{Rs}.\,\,1200\] \[CI=\text{Rs}.\,\left[ 8000\times {{\left( 1+\frac{5}{100} \right)}^{3}}-8000 \right]\] \[=\text{Rs}.\,\left[ \left( 8000\times \frac{21}{20}\times \frac{21}{20}\times \frac{21}{20} \right)-8000 \right]\] \[=\text{Rs}.\,(9261-8000)=\text{Rs}.\,1261\] \[CI-SI=\text{Rs}.\,(1261-1200)-\text{Rs}.\,61\]


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