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The compound interest on a sum of money for 2 years is Rs. 832 and the simple interest on the same sum for the same period is Rs. 800. The difference between the compound interest and simple interest for the third year is
  • a)
    Rs. 48
  • b)
    Rs. 66.56
  • c)
    Rs. 98.56
  • d)
    None of these
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
The compound interest on a sum of money for 2 years is Rs. 832 and the...
Difference in Cl and SI in second year = Rs 32
Cl = SI for fist year = 800/2 = 400
This difference of Rs. 32 is the SI earned on Rs. 400 on one year (as the SI on first year is also added to principal for second year).
r= [(100 x 32)/(400 x 1)] = 8% Difference between Cl and SI for 3rd year = SI on Rs. 832 for one year
= (832 x 1 x 8)/100
Hence, option 2.
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The compound interest on a sum of money for 2 years is Rs. 832 and the simple interest on the same sum for the same period is Rs. 800. The difference between the compound interest and simple interest for the third year isa)Rs. 48b)Rs. 66.56c)Rs. 98.56d)None of theseCorrect answer is option 'B'. Can you explain this answer?
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The compound interest on a sum of money for 2 years is Rs. 832 and the simple interest on the same sum for the same period is Rs. 800. The difference between the compound interest and simple interest for the third year isa)Rs. 48b)Rs. 66.56c)Rs. 98.56d)None of theseCorrect answer is option 'B'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about The compound interest on a sum of money for 2 years is Rs. 832 and the simple interest on the same sum for the same period is Rs. 800. The difference between the compound interest and simple interest for the third year isa)Rs. 48b)Rs. 66.56c)Rs. 98.56d)None of theseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The compound interest on a sum of money for 2 years is Rs. 832 and the simple interest on the same sum for the same period is Rs. 800. The difference between the compound interest and simple interest for the third year isa)Rs. 48b)Rs. 66.56c)Rs. 98.56d)None of theseCorrect answer is option 'B'. Can you explain this answer?.
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