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If the simple interest on a sum of money at 10% per annum for 3 years is Rs 1500, then the compound interest on the same sum at the same rate for the same period is
(a) Rs 1655
(b) Rs 1155
(c) Rs 1555
(d) Rs 1855


Solution

(a) Rs. 1655

Here, SI =P×R×T100Rs. 1500 = P×10×3100P = 1500×10010×3= Rs. 5000Now, A = P ×1+R100n= Rs. 5000×1+101003 = Rs. 5000×1101003 = Rs. 5000×1110×1110×1110 = Rs. 5×11×11×11 = Rs. 6655 CI = A-P =Rs (6655-5000) = Rs 1655

Mathematics
RS Aggarwal (2016)
Standard VIII

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