Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

The compound interest on a sum of money for 2 years is Rs.832 and the simple interest on the same sum for the same period is Rs.800. The difference between the compound interest and the simple interest for 3 years at the same rate will be:

Options:

Rs. 92.36

Rs. 75.64

Rs. 98.56

Rs. 106.56

Correct Answer:

Rs. 98.56

Explanation:

SI for one year = \(\frac{800}{2}\) = 400

Difference b/w CI and SI for 2 years = 832 - 800 = 32

Now,