Question
The difference between simple and compound interest on a
sum of Rs.1000 at the end of two years is Rs10. Find the total CI on a sum after 3 years is?Solution
ATQ, Rate of interest = √[(10 × 100 × 100)/1000] = 10% Therefore CI at the end of the 3 years will be = [1000(1 + (10/3))3] - 10000 = 1331 - 1000 = 331Â
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