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6.Interest
medium
If the difference between the simple interest and compound interest earned on an amount @ $15$ $p.c.p.a.$ at the end of $3$ years is $Rs. 595.35$ what is the amount (In $Rs.$) ?
A
$8400$
B
$9200$
C
$6800$
D
Cannot be determined
Solution
Required difference $=\frac{P \times r^{2}}{(100)^{2}}\left(\frac{r}{100}+3\right)$
$\Rightarrow 595.35=\frac{P \times 15 \times 15}{100 \times 100}\left(\frac{15}{100}+3\right)=\frac{225 P}{10000} \times \frac{315}{100}$
$\therefore P=\frac{595.35 \times 1000000}{225 \times 315}= Rs .8400$
Standard 13
Quantitative Aptitude
