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    Question

    Priya lent Rs. 10,000 to her colleague at a compound

    interest rate of 'a%' per annum, compounded annually. A year later, the colleague paid back Rs. 10,800. Had the loan been at simple interest of (a + 3)% instead, what would have been the interest earned?
    A Rs.2500 Correct Answer Incorrect Answer
    B Rs.1500 Correct Answer Incorrect Answer
    C Rs.1100 Correct Answer Incorrect Answer
    D Rs.1160 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    ATQ, Find the rate 'a': Calculate the simple interest: The interest earned would have been Rs. 1100.

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