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      Question

      The difference between the interests received when Rs. x

      is invested in scheme β€˜A’ at simple interest for 3 years and at compound interest, compounded annually for 3 years in scheme β€˜B’ is Rs. 2560. The rate of interest p.a. for both the schemes is 20%. Find the value of β€˜x’.
      A 20000 Correct Answer Incorrect Answer
      B 15000 Correct Answer Incorrect Answer
      C 25000 Correct Answer Incorrect Answer
      D 16000 Correct Answer Incorrect Answer

      Solution

      Difference = 3PR 2 /100 2 Β + P(R/100) 3
      According to the question,
      2560 = x{(3 Γ— 20 2 )/100 2 Β + (20/100) 3 }
      Or. 2560 = 0.128x
      Or, x = 20000

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