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The difference between C.I and S.I on a certain sum of money invested for 3 years at 6% p.a is ` 110.16. The is (a) ` 3,000 (b) ` 3,700 (c) ` 12,000 (d) ` 10,000?
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The difference between C.I and S.I on a certain sum of money invested ...
Solution:
Given, principal amount = P, rate of interest = 6%, time period = 3 years
Let the difference between CI and SI be D.
Then, D = CI - SI
We know that, CI = P[(1 + r/100)^n - 1] and SI = Pnr/100
Substituting the given values, we get:
CI = P[(1 + 6/100)^3 - 1]
SI = P * 3 * 6/100
D = P[(1 + 6/100)^3 - 1] - P * 3 * 6/100
D = P[(1.06)^3 - 1 - 0.18]
D = P(1.191016 - 1 - 0.18)
D = 0.011016P
Therefore, D = 110.16
0.011016P = 110.16
P = 11016/0.011016
P = 999999.9999999999 (approximately)
Therefore, the principal amount is ` 10,000
Hence, the answer is (d) ` 10,000.
Given, principal amount = P, rate of interest = 6%, time period = 3 years
Let the difference between CI and SI be D.
Then, D = CI - SI
We know that, CI = P[(1 + r/100)^n - 1] and SI = Pnr/100
Substituting the given values, we get:
CI = P[(1 + 6/100)^3 - 1]
SI = P * 3 * 6/100
D = P[(1 + 6/100)^3 - 1] - P * 3 * 6/100
D = P[(1.06)^3 - 1 - 0.18]
D = P(1.191016 - 1 - 0.18)
D = 0.011016P
Therefore, D = 110.16
0.011016P = 110.16
P = 11016/0.011016
P = 999999.9999999999 (approximately)
Therefore, the principal amount is ` 10,000
Hence, the answer is (d) ` 10,000.
Community Answer
The difference between C.I and S.I on a certain sum of money invested ...
(d) 10,000
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The difference between C.I and S.I on a certain sum of money invested for 3 years at 6% p.a is ` 110.16. The is (a) ` 3,000 (b) ` 3,700 (c) ` 12,000 (d) ` 10,000?
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The difference between C.I and S.I on a certain sum of money invested for 3 years at 6% p.a is ` 110.16. The is (a) ` 3,000 (b) ` 3,700 (c) ` 12,000 (d) ` 10,000? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The difference between C.I and S.I on a certain sum of money invested for 3 years at 6% p.a is ` 110.16. The is (a) ` 3,000 (b) ` 3,700 (c) ` 12,000 (d) ` 10,000? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The difference between C.I and S.I on a certain sum of money invested for 3 years at 6% p.a is ` 110.16. The is (a) ` 3,000 (b) ` 3,700 (c) ` 12,000 (d) ` 10,000?.
The difference between C.I and S.I on a certain sum of money invested for 3 years at 6% p.a is ` 110.16. The is (a) ` 3,000 (b) ` 3,700 (c) ` 12,000 (d) ` 10,000? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The difference between C.I and S.I on a certain sum of money invested for 3 years at 6% p.a is ` 110.16. The is (a) ` 3,000 (b) ` 3,700 (c) ` 12,000 (d) ` 10,000? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The difference between C.I and S.I on a certain sum of money invested for 3 years at 6% p.a is ` 110.16. The is (a) ` 3,000 (b) ` 3,700 (c) ` 12,000 (d) ` 10,000?.
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