LIVE Course for free

Rated by 1 million+ students
Get app now
0 votes
21 views
in Simple Interest by (59.9k points)
closed by
If the difference between the compound interest and simple interest on a sum of money is Rs. 32 at a rate of 5% pa for 2 yr. What is SI?
1. 640
2. 1200
3. 1280
4. 1240

1 Answer

0 votes
by (110k points)
selected by
 
Best answer
Correct Answer - Option 3 : 1280

Given:

Difference between CI and SI (D) = 32

Rate (R) = 5% pa

Time (T) = 2 yr

Formula Used:

For 2 yr time the difference between CI and SI (D) = SI/200 × R

Calculations:

CI – SI (D) = 32, R = 5%

According to the formula,

⇒ D = SI/200 × R

⇒ 32 = SI/200 × 5

⇒ SI = (32 × 200)/5

⇒SI = 1280.

∴ The Simple interest is Rs. 1280.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...