Question

If the difference between SI and CI on a certain sum of money for $3$ years at $10$ % per annum, is Rs. $15.50$. The sum is:

• A. Rs. $1,000$
• B. Rs. $500$
• C. Rs. $1,500$
• D. Rs. $2,000$

Answer 1

The correct option is B Rs. $500$

$CI-SI=P[{\left(\frac{R}{100}\right)}^3+3{\left(\frac{R}{100}\right)}^2]$
$\Rightarrow 15.50=P[{\left(\frac{10}{100}\right)}^3+3{\left(\frac{10}{100}\right)}^2]$
$\Rightarrow P=15.50\times \frac{1000}{31}=$ Rs. $500$