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      Question

      Priyanka wants to invest Rs. 30,000 for 3 years, which

      of the following options would fetch her the highest amount as interest? I) Company A under scheme II? II) Company D under scheme III? III) Company D under scheme I?
      A Option I Correct Answer Incorrect Answer
      B option II Correct Answer Incorrect Answer
      C option III Correct Answer Incorrect Answer
      D Data Inadequate Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      I) For Company A under scheme II, CI = `P(1+(R/100))^T - P ` `= 30000(1+(6/100)^3- 30000 ` `= Rs. 5730.48` II) For Company D under scheme III,

      SI = PRT/100 = `(30000 xx 3 xx 7)/100 = Rs. 6300`
      III) For company D under scheme I,
      CI = `P(1+(R/100))^T - P ` `= 30000(1+(8/100))^3- 30000 ` `= Rs. 7791.36`
      Hence highest interest is from option III.

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