Postal or Sorting Assistants Model Paper 1 With Solutions

Question : 1 of 100

Marks: +1, -0

What is the difference between the compound interest and simple interest accrued on an amount of ₹12,000 at the end of three years at the rate of 12%?

₹ 539.136
₹602.242
₹495.248
₹ 488.322

Validate

Solution:

S.I.

=\text"principal × time × rate"/100

{12000×3×12}/100=₹4320

C.I.

=P [[1+\text"rate"/100]^{\text"time"}-1]

=12000[[1+12/100]^3-1]

=1200[[28/25]^3-1]

=12000[21952/15625-1]=12000×6327/15625

=₹ 4859.136
∴Required difference

=4859.136 - 4320= ₹539.136

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