The difference between simple interest and compound interest on a certain sum of money for 3 years at 10% per annum is ₹62. The sum is :
Answer & explanation
Correct answer: option 4
We know that, If the principal is 100%
CI for 3 years at 10% per annum is = 33.1%
for 3 years at 10% per annum is = 30%
Difference = 33.1 - 30 = 3.1%
So, 3.1% = 62
100% = 2000