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The difference between Simple Interest and Compound Interest at the rate of 12% on the same amount for 3 years is Rs. 112.32. What is the principal amount if interest is compounded annually?
- a)Rs. 25000
- b)Rs. 2500
- c)Rs. 50000
- d)Rs. 5000
- e)Rs. 2000
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
The difference between Simple Interest and Compound Interest at the ra...
Let the principal amount be Rs. x
Calculating SI:
SI for 1 year at 12% rate is Rs (12/100)*x. For 3 years it will be Rs (36/100)*x ------ (1)
Calculating CI:
For 1st year, Interest = (12/100)*x
For 2nd year, interest = (12/100)*x + (12/100)*x + (144/10000)*x
For 3rd year, interest = (12/100)*x + (12/100)*x + (12/100)*x + (144/10000)*x + (144/10000)*x + (1728/1000000)*x. ------ (2)
Subtracting equation 2 and 1 and solving further,
312*144*x/1000000 = 112.32
X = Rs 2500.
Alternative way: Using formula for Difference between CI and SI for 3 years (PR2/1002(3+(R/100)))
we can also use the above formula to find the value of P.
Calculating SI:
SI for 1 year at 12% rate is Rs (12/100)*x. For 3 years it will be Rs (36/100)*x ------ (1)
Calculating CI:
For 1st year, Interest = (12/100)*x
For 2nd year, interest = (12/100)*x + (12/100)*x + (144/10000)*x
For 3rd year, interest = (12/100)*x + (12/100)*x + (12/100)*x + (144/10000)*x + (144/10000)*x + (1728/1000000)*x. ------ (2)
Subtracting equation 2 and 1 and solving further,
312*144*x/1000000 = 112.32
X = Rs 2500.
Alternative way: Using formula for Difference between CI and SI for 3 years (PR2/1002(3+(R/100)))
we can also use the above formula to find the value of P.
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The difference between Simple Interest and Compound Interest at the rate of 12% on the same amount for 3 years is Rs. 112.32. What is the principal amount if interest is compounded annually?a)Rs. 25000b)Rs. 2500c)Rs. 50000d)Rs. 5000e)Rs. 2000Correct answer is option 'B'. Can you explain this answer?
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The difference between Simple Interest and Compound Interest at the rate of 12% on the same amount for 3 years is Rs. 112.32. What is the principal amount if interest is compounded annually?a)Rs. 25000b)Rs. 2500c)Rs. 50000d)Rs. 5000e)Rs. 2000Correct answer is option 'B'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about The difference between Simple Interest and Compound Interest at the rate of 12% on the same amount for 3 years is Rs. 112.32. What is the principal amount if interest is compounded annually?a)Rs. 25000b)Rs. 2500c)Rs. 50000d)Rs. 5000e)Rs. 2000Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The difference between Simple Interest and Compound Interest at the rate of 12% on the same amount for 3 years is Rs. 112.32. What is the principal amount if interest is compounded annually?a)Rs. 25000b)Rs. 2500c)Rs. 50000d)Rs. 5000e)Rs. 2000Correct answer is option 'B'. Can you explain this answer?.
The difference between Simple Interest and Compound Interest at the rate of 12% on the same amount for 3 years is Rs. 112.32. What is the principal amount if interest is compounded annually?a)Rs. 25000b)Rs. 2500c)Rs. 50000d)Rs. 5000e)Rs. 2000Correct answer is option 'B'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about The difference between Simple Interest and Compound Interest at the rate of 12% on the same amount for 3 years is Rs. 112.32. What is the principal amount if interest is compounded annually?a)Rs. 25000b)Rs. 2500c)Rs. 50000d)Rs. 5000e)Rs. 2000Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The difference between Simple Interest and Compound Interest at the rate of 12% on the same amount for 3 years is Rs. 112.32. What is the principal amount if interest is compounded annually?a)Rs. 25000b)Rs. 2500c)Rs. 50000d)Rs. 5000e)Rs. 2000Correct answer is option 'B'. Can you explain this answer?.
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