Difference between compound interest and simple interest on a certain sum at 3 % per annum for 3 yea

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6.Interest

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The difference between the compound interest and simple interest on a certain sum at $3 \%$ per annum for $3$ years is ₹ $27.27 .$ The sum is (In ₹)

A

$12000$

B

$15000$

C

$10000$

D

None of these

Solution

(c) We have, $C I-S I=P\left[\left(\frac{R}{100}\right)^{3}+3\left(\frac{R}{100}\right)^{2}\right]$

$\Rightarrow \quad 27.27=P\left[\left(\frac{3}{100}\right)^{3}+3\left(\frac{3}{100}\right)^{2}\right]$

$=P\left[\frac{27+2700}{100 \times 100 \times 100}\right]$

$\Rightarrow P=\frac{27.27 \times 100 \times 100 \times 100}{2727}$

$=₹ 10000$

Standard 13

Quantitative Aptitude

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