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Find the compound interest at the rate of 8% for 3 years on that principal which in 3 years at therate of 10% per annum gives 300 as simple interest.
  • a)
    180.515
  • b)
    220.25
  • c)
    259.712
  • d)
    289.624
  • e)
    312.51
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Find the compound interest at the rate of 8% for 3 years on that princ...
SI =300
Per yr = 100
Rate = 10%
C.I = 1000*(108/100)³ -1000
C.I = 259.712
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Most Upvoted Answer
Find the compound interest at the rate of 8% for 3 years on that princ...
SI =300
Per yr = 100
Rate = 10%
C.I = 1000*(108/100)³ -1000
C.I = 259.712
Free Test
Community Answer
Find the compound interest at the rate of 8% for 3 years on that princ...
Given:
Rate of interest = 8%
Time = 3 years
Simple interest after 3 years at 10% = 300

To find:
Compound interest after 3 years at 8%

Solution:

Step 1: Finding the principal amount
Let the principal amount be P.

Using the formula for simple interest:
Simple Interest = (Principal * Rate * Time) / 100

300 = (P * 10 * 3) / 100
300 = (P * 30) / 100
300 * 100 = P * 30
P = (300 * 100) / 30
P = 1000

The principal amount is 1000.

Step 2: Finding the compound interest
Using the formula for compound interest:
Compound Interest = P * (1 + R/100)^T - P

Where:
P = Principal amount = 1000
R = Rate of interest = 8%
T = Time = 3 years

Compound Interest = 1000 * (1 + 8/100)^3 - 1000
Compound Interest = 1000 * (1.08)^3 - 1000
Compound Interest = 1000 * 1.259712 - 1000
Compound Interest = 1259.712 - 1000
Compound Interest = 259.712

The compound interest after 3 years at 8% is 259.712.

Therefore, the correct answer is option C) 259.712.
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Question Description
Find the compound interest at the rate of 8% for 3 years on that principal which in 3 years at therate of 10% per annum gives 300 as simple interest.a)180.515b)220.25c)259.712d)289.624e)312.51Correct answer is option 'C'. Can you explain this answer? for Quant 2025 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Find the compound interest at the rate of 8% for 3 years on that principal which in 3 years at therate of 10% per annum gives 300 as simple interest.a)180.515b)220.25c)259.712d)289.624e)312.51Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Quant 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find the compound interest at the rate of 8% for 3 years on that principal which in 3 years at therate of 10% per annum gives 300 as simple interest.a)180.515b)220.25c)259.712d)289.624e)312.51Correct answer is option 'C'. Can you explain this answer?.
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