Question

Find the difference between $C.I.$ & $S.I.$ on $Rs.15000$ at $3\%$ per annum for $3$ years ?

• A. $40.91$
• B. $73.91$
• C. $39.91$
• D. $30$

Answer 1

Answer: (A)

$40.91$

Given,

principle = 15000

rate = 3 %, Time = 3 year

$S.I=\frac{15000\times 3\times 3}{100}=1350$ $SI=\frac{principle\times rate}{100}$

$C.I=principle\left[\right(1+\frac{rate}{100}{)}^{time}-1]$

$=15000\left[\right(1+\frac{3}{100}{)}^3-1]$

$=\frac{15000}{1000000}({103}^3-{100}^3)$

$=\frac{15}{1000}\times 92727$

$=1390.905$

$C.I-S.I=1390.905-1350$

$=40.905$

$\approx 40.91$