The difference between simple interest and compound interest on a certain sum of money in three years at 10% per annum rate is ₹15.50. The sum is |
₹500 ₹550 ₹600 ₹650 |
₹500 |
We know that CI for 3 years at the rate of 10% = 33.1% and SI for 3 years for the same rate = 30% So the difference = 33.1 - 30 = 3.1% So, according to the question, 3.1% of principal = 15.50 Then, 100% of principal = ₹500 |