What sum will give ₹ 244 as difference between simple interest and compound interest (In ₹) at 1

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6.Interest

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What sum will give ₹ $244$ as the difference between simple interest and compound interest (In ₹) at $10 \%$ in $1 \frac{1}{2}$ years compounded half-yearly?

A

$40000$

B

$36000$

C

$32000$

D

$28000$

Solution

(c) Difference $=P\left(\frac{r^{3}}{1000000}+\frac{3 r^{3}}{10000}\right)$

$\Rightarrow \quad 244=P\left(\frac{125}{1000000}+\frac{75}{10000}\right)$

$\Rightarrow \quad 244=P\left(\frac{7625}{1000000}\right)$

$\Rightarrow \quad P=\frac{244 \times 1000000}{7625}=32000$

Standard 13

Quantitative Aptitude

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