The difference between compound and simple interest on a certain sum for 3 years at 5% per annum is Rs. 122. The sum is
Options:
A . 10,000
B . 16,000
C . 12,000
D . 15,000
Answer: Option B Answer: (b)Using Rule 6,Let the difference between CI and SI on a certain sum for 3 years at r % be x,then the sum v= ${\text"Difference" × (100)^3}/{r^2(300 + r)}$= ${122 × {100}^3}/{25(300 + 5)}$= $122000000/{25 × 305}$ = Rs.16000
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