CUET Preparation Today
A person invests Rs. 10000 at simple interest for 3 years at 10%. How much more should he gain had he given it at compound interest? |
Rs. 131 Rs. 330 Rs. 310 Rs. 300 |
Rs. 310 |
Simple interest for 3 years @10% = 30% Compound interest for 3 years @ 10% = 33.10% Difference = 33.10% - 30% = 3.1% Therefore, the difference = 10000 × 3.1% = 310/- |
