On what sum does the difference between the compound interest and the simple interest for 3 years at 10% is ₹31?
Answer & explanation
Correct answer: option 3
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/-