Symbiosis National Aptitude Test SNAP 2017 Paper

Question : 15 of 150

Marks: +1, -0

The difference between the simple interest and the compound interest on a sum of money at the end of four years is ₹ 1282. Find the sum.
I. Amount of simple interest accrued after four years is ₹ 4000.
II. Rate of interest is 10% per annum

Validate

Solution:

From II alone,
Let the sum be P
⇒

[p+(1+{10}/{100})^4-p] -{p×10×4}/{100}

= 1280
⇒ p = 2000

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