If the difference between the compound and simple interests on a certain sum of

Question

If the difference between the compound and simple interests on a certain sum of money for 3 years at 5% per annum is 15.25, then the sum is

Options:

A . 2,500

B . 2,000

C . 1,500

D . 1,000

Answer: Option B
Answer: (b)Using Rule 6,Difference between C.I. and S.I for 3 years= $\text"PR"^2/(100)^2(R/100 + 3)$15.25 = ${P × 25}/10000(5/100 + 3)$15.25 = ${P × 305}/{400 × 100}$P = ${15.25 × 400 × 100}/305$ = Rs.2000

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