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Question

If the compound interest on a certain sum at 1623% for 3 years is Rs. 1270, the simple interest on the same at the same rate and for the same period is:

A
Rs. 1200
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B
Rs. 1165
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C
Rs. 1080
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D
Rs. 1220
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Solution

The correct option is C Rs. 1080
Let the sum be Rs. x Then,C.I=[x×(1+503×100)3]x=(343x216x)=127x216127x216=1270or x=1270×216127=2160.Thus, the sum is Rs. 2160.S.I.=Rs.(2160×503×3×1100)=Rs.1080.

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