Arvind and Govind each invested Rs. 15000 for 3 years at the same rate of interest but Arvind's investment is compounded annually while Govind's investment is charged on simple interest. What amount did Arvind receive more than Govind?

Rs. 680

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Rs. 3450

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Data insufficient

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None of these

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Solution

The correct option is C Data insufficient
We don't know the rate of interest.

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Arvind and Govind each invested Rs. 15000 for 3 years at the same rate of interest but Arvind's investment is compounded annually while Govind's investment is charged on simple interest. What amount did Arvind receive more than Govind?

The correct option is C Data insufficientWe don't know the rate of interest.

The correct option is C Data insufficient
We don't know the rate of interest.