Compound Interest - Arithmetic Aptitude Questions and Answers

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The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:

Rs. 2.50

Rs. 3

Rs. 3.75

Rs. 4

None of these

Answer : Option B

Explanation :

S.I. = Rs $[\frac { 1200*10*1 } { 100 } ]$ =Rs.120

C.I. = Rs[1200x $[1+\frac { 5 } { 100 } ]^2$ -1200]=Rs.123

Difference = Rs. (123 - 120) = Rs. 3.

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