Question
The difference between the compound interest and simple interest accrued on an amount at the end of three years at the rate of 15% is Rs. 453.6. What is the amount ?
Answer: Option B
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C.I = P[(1+R/100)T - 1 ]
= P[(1+15/100)3 - 1]
= P[(23/20)3 - 1]
= P * 4167/8000
Intrest = (P * 15 * 3)/100 = 9P/20
4167P/8000 - 9P/20 = 4536
=> (4176P - 3600P)/8000 = 453.6
=> 567P = 453.6 * 8000
=> P = 453.6 * 8000/567
= Rs. 6400
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