Arithmetichard · Past Paper
The difference between simple and compound interest on a sum for 3 years at 5% is Rs 12.20. Find the sum.
ARs 1600
BRs 1500
CRs 1200
DRs 1800
✓ Correct Answer: A — Rs 1600
Diff = P(R/100)^2 * (3 + R/100) => 12.2 = P(0.0025)(3.05) => 12.2 = 0.007625P => P = 1600.
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