On what sum does the difference between

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

On what sum does the difference between the compound interest and the simple interest for 3 years at 10% is ₹31?

Options:

₹990

₹1050

₹1000

₹1120

Correct Answer:

₹1000

Explanation:

10% = $\frac{1}{10}$

Let Principal = Rs.1000 (cube of denominator)

Now,

Difference b/w CI and SI for 3 years = 31 (given as same)

Therefore,

Principal = Rs.1000/-