Question
The difference between the compound interest and simple interest accrued on an amount at the end of three years at the rate of 12% is Rs.381.888. What is the amount?
Answer: Option E
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C.I = P[(1+R/100)T - 1]
= P[(1+12/100)3 - 1] = P[(28/25)3 - 1]
= P[(21952/15625) - 1]
= 6327P/15625
S.I = (P * 3 * 12)/100 = Rs. 9P/25
6327P/15625 - 9P/25 = 381.888
=> 702P/15625 = 381.888
=> P = (381.888*15625)/702
= Rs. 8500
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