Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

The difference between compound interest and simple interest on a certain sum of money for 3 years at 16 \(\frac{2}{3}\)% p.a. is Rs. 57. The sum of money is:

Options:

Rs. 216

Rs. 108

Rs. 432

Rs. 648

Correct Answer:

Rs. 648

Explanation:

16 \(\frac{2}{3}\)% = \(\frac{1}{6}\)

Here,

Difference = 19R = 57

1R = 3

Principal = 216R = 216 × 3 = Rs.648