RRB NTPC Mains or Stage 2 Model Paper 10 with solutions

Question : 16 of 120

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:

(a) S.I. =

{principal×time×rate}/100

{12000× 3× 12}/100= ₹ 4320

C.I.

= P[[1+{rate} /100]^time –1]

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

=12000[[28/25]^3 - 1]

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

= ₹ 4859.136
∴Required difference = 4859.136 – 4320
= ₹ 539.136

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