Quick Method for solving Compound Interest Questions - Type 8

Ashish

Administrator
Staff member
#1
1. If the difference between simple interest and compound interest on a certain sum of money for 3 years at 10% per annum is Rs 31, The sum is.
a) 500
b) 750
c) 1000
d) 1250



Answer: 1000

2. The difference betwen compound interest and simple interest on a certain sum for 3 years at 5% per annum is Rs 122. The sum is:
a) Rs 16,000
b) Rs 15,000
c) Rs 12,000
d) Rs 10,000



Answer: Rs 16,000


3. The difference between simple and compound interest on a sum of money at 20% per annum for 3 years is Rs. 48. What is the sum?
a) Rs. 550
b) Rs. 500
c) Rs. 375
d) Rs. 400



Answer: Rs. 375