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      Question

      A man deposited Rs. 22000 at 10% compound interest,

      compounded annually while Rs. 21500 at 12% simple interest per annum. What will be the difference between the compound interest and the simple interest earned by him after 3 years?
      A Rs 218 Correct Answer Incorrect Answer
      B Rs 182 Correct Answer Incorrect Answer
      C Rs 365 Correct Answer Incorrect Answer
      D Rs 458 Correct Answer Incorrect Answer
      E Rs 336 Correct Answer Incorrect Answer

      Solution

      Compound interest earned by the man in 3 years = 22000 ├Ч {(1 + 10/100)3 тАУ 1)} = 22000 ├Ч 0.331 = Rs. 7282 Simple interest earned by the man in 3 years = 21500 ├Ч 0.13 ├Ч 3 = Rs. 7740 Required difference = 7740 тАУ 7282 = Rs. 458

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