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Discussion :: IBPS BANK EXAM TEST 5

  1. The difference between the compound interest and simple interest accrued on an amount at the end of three years at the rate of 15% is Rs. 453.6. What is the amount ?
    2. A.

    Rs.4500
    B.

    Rs. 6400
    C.

    Rs. 7200
    D.

    Rs. 8000
    E.

    None of these

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    Answer : Option B

    Explanation :

    C.I = P[(1+R/100)T - 1 ]
    = P[(1+15/100)3 - 1]
    = P[(23/20)3 - 1]
    = P * 4167/8000
    Intrest = (P * 15 * 3)/100 = 9P/20
    4167P/8000 - 9P/20 = 4536
    => (4176P - 3600P)/8000 = 453.6
    => 567P = 453.6 * 8000
    => P = 453.6 * 8000/567
    = Rs. 6400

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