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Compound Interest

Choose the co...

Question

Choose the correct answer:
An amount of money was lent for $3$ years. What will be the difference between the simple and the compound interest earned on it at the same rate?
P : The rate of interest was $8 %$ per annum.
Q : The total amount of simple interest was Rs. $1200$

Only P is sufficient to answer

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Only Q is sufficient to answer

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Both P & Q are sufficient to answer

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None of the above.

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Solution

The correct option is C Both P & Q are sufficient to answer
Using both statement we can calculate the difference between S.I and C.I

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