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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 Rs. 110.16. The sum is
- a)Rs. 3000
- b)Rs. 3700
- c)Rs. 1200
- d)Rs. 10000
Correct answer is option 'D'. Can you explain this answer?
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The difference between C.I and S.I on a certain sum of money invested ...
Given, difference between C.I and S.I for 3 years at 6% p.a. is Rs. 110.16.
Let the principal be P.
Formula:
Compound Interest (C.I.) = P[(1 + R/100)^n - 1]
Simple Interest (S.I.) = P×R×n/100
Where, R is the rate of interest, n is the time period in years.
Calculation:
Difference between C.I. and S.I. for 3 years at 6% p.a. = C.I. - S.I.
110.16 = P[(1 + 6/100)^3 - 1] - P×6×3/100
110.16 = P[(1.06)^3 - 1 - 0.18]
110.16 = P[0.191016]
P = 110.16/0.191016
P = Rs. 577.56
Therefore, the principal is Rs. 577.56.
But the question asks for the sum after 3 years.
Using the formula for C.I.,
C.I. = P[(1 + R/100)^n - 1]
C.I. = 577.56[(1 + 6/100)^3 - 1]
C.I. = 577.56[1.191016]
C.I. = Rs. 688.72
Therefore, the sum after 3 years is Rs. 688.72.
Hence, option D (Rs. 10000) is not the correct answer.
Let the principal be P.
Formula:
Compound Interest (C.I.) = P[(1 + R/100)^n - 1]
Simple Interest (S.I.) = P×R×n/100
Where, R is the rate of interest, n is the time period in years.
Calculation:
Difference between C.I. and S.I. for 3 years at 6% p.a. = C.I. - S.I.
110.16 = P[(1 + 6/100)^3 - 1] - P×6×3/100
110.16 = P[(1.06)^3 - 1 - 0.18]
110.16 = P[0.191016]
P = 110.16/0.191016
P = Rs. 577.56
Therefore, the principal is Rs. 577.56.
But the question asks for the sum after 3 years.
Using the formula for C.I.,
C.I. = P[(1 + R/100)^n - 1]
C.I. = 577.56[(1 + 6/100)^3 - 1]
C.I. = 577.56[1.191016]
C.I. = Rs. 688.72
Therefore, the sum after 3 years is Rs. 688.72.
Hence, option D (Rs. 10000) is not the correct answer.
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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 Rs. 110.16. The sum isa)Rs. 3000b)Rs. 3700c)Rs. 1200d)Rs. 10000Correct answer is option 'D'. Can you explain this answer?
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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 Rs. 110.16. The sum isa)Rs. 3000b)Rs. 3700c)Rs. 1200d)Rs. 10000Correct answer is option 'D'. Can you explain this answer? 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 Rs. 110.16. The sum isa)Rs. 3000b)Rs. 3700c)Rs. 1200d)Rs. 10000Correct answer is option 'D'. Can you explain this answer? 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 Rs. 110.16. The sum isa)Rs. 3000b)Rs. 3700c)Rs. 1200d)Rs. 10000Correct answer is option 'D'. Can you explain this answer?.
The difference between C.I and S.I on a certain sum of money invested for 3 years at 6% p.a. is Rs. 110.16. The sum isa)Rs. 3000b)Rs. 3700c)Rs. 1200d)Rs. 10000Correct answer is option 'D'. Can you explain this answer? 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 Rs. 110.16. The sum isa)Rs. 3000b)Rs. 3700c)Rs. 1200d)Rs. 10000Correct answer is option 'D'. Can you explain this answer? 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 Rs. 110.16. The sum isa)Rs. 3000b)Rs. 3700c)Rs. 1200d)Rs. 10000Correct answer is option 'D'. Can you explain this answer?.
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