Thursday, 30 January 2014

Question of the Day No. 26


Find the Difference between Compound Interest and Simple Interest of Principal Rs. 15000 at the rate of 6% per annum for 3 Years ?

a) 168.12    b) 165.24   c) 168.14    d) 166.42    e) None of these
Answers and Explanations are welcome in comments
The Correct Answer will be Given Tomorrow

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1 comment:

  1. Unknown31 January 2014 at 00:15

    Correct Answer is 165.24
    Explanation : To Calculate Difference between Compound Interest and Simple Interest for 2 years or 3 years. Kindly note down simple formulas

    If question is for 2 years then {Diff. = P(r%)^2}
    If question is for 3 years then {Diff. = P(r%)^2*(300+r%)}

    Just Put values of principle and rate of Interest you will got the right answer. P = 15000 and r = 6%


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