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    Question

    On what sum will the difference between the simple and

    compound interest for 3 years at 20% percent per annum amounts to Rs 66.56?
    A Rs 540 Correct Answer Incorrect Answer
    B Rs 520 Correct Answer Incorrect Answer
    C Rs 500 Correct Answer Incorrect Answer
    D Rs 450 Correct Answer Incorrect Answer
    E Rs 480 Correct Answer Incorrect Answer

    Solution

    We have the formula: Difference = (PR2 (300 + R))/(100)3 66.56 = (P× (20)2× (300 + 20))/(100)3 P = (66.56× 100× 100× 100)/(20× 20× 320) P = Rs. 520

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