Question
Download Solution PDFIf the difference between the compound interest and simple interest on a sum for 3 years at the rate of 5% per annum is Rs. 190.625, find the sum.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Rate = 5% per annum
Difference between C.I and S.I for 3 years = Rs. 190.625
Formula used:
Difference for 3 years = \({\rm{P}}{\left( {\frac{{\rm{R}}}{{100}}{\rm{\;}}} \right)^2}\left( {\frac{{300{\rm{\;}} + {\rm{\;R}}}}{{100}}} \right)\)
Calculation:
\(\Rightarrow {\rm{}}190.625{\rm{}} = {\rm{P}}{\left( {\frac{5}{{100}}} \right)^2}\left( {\frac{{300{\rm{\;}} + {\rm{\;}}5}}{{100}}} \right)\)
\( \Rightarrow {\rm{}}190.625{\rm{}} = {\rm{P}}\left( {\frac{1}{{400}}} \right)\left( {\frac{{305}}{{100}}} \right)\)
⇒ P = Rs. (190.625 × 400 × 100)/305
⇒ P = Rs. 25,000
∴ The sum is Rs. 25,000
Last updated on Jul 11, 2025
-> The SSC CGL Application Correction Window Link Live till 11th July. Get the corrections done in your SSC CGL Application Form using the Direct Link.
-> This year, the Staff Selection Commission (SSC) has announced approximately 14,582 vacancies for various Group B and C posts across government departments.
-> The SSC CGL Tier 1 exam is scheduled to take place from 13th to 30th August 2025.
-> Aspirants should visit ssc.gov.in 2025 regularly for updates and ensure timely submission of the CGL exam form.
-> Candidates can refer to the CGL syllabus for a better understanding of the exam structure and pattern.
-> The CGL Eligibility is a bachelor’s degree in any discipline.
-> Candidates selected through the SSC CGL exam will receive an attractive salary. Learn more about the SSC CGL Salary Structure.
-> Attempt SSC CGL Free English Mock Test and SSC CGL Current Affairs Mock Test.
-> The RRB Railway Teacher Application Status 2025 has been released on its official website.