Question

Find the difference between C.I & S.I. on $Rs.13000$ at $4$% per annum for $3$ years ?

• A. $Rs.63.23$
• B. $Rs.73.25$
• C. $Rs.68.25$
• D. $Rs.70.29$

Answer 1

The correct option is A $Rs.63.23$

Given,

$Principle=13000$

$Rate=4\%$

$Time=3$

$C.I=Principal(1+\frac{rate}{100})time-principle$

$=13000[{(1+\frac{4}{100})}^3-1]$

$=13000\left[\frac{{104}^3-{100}^3}{{100}^3}\right]$

after solving their we get $CI=1623.232$

$S.I=\frac{principle\times rate\times time}{100}$

$S.I=\frac{1300\times 4\times 3}{100}=1560$

Difference = $C.I-S.I$

$=1623.232-1560$

$=63.23$