1. An amount of money was lent for 3 years. What will be the difference between the simple and the compound interest earned on it at the same rate? I. The rate of interest was 8 p.c.p.a. II. The total amount of simple interest was Rs. 1200.
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By: guest on 01 Jun 2017 05.46 pm
Given: T = 3 years. I. gives: R = 8% p.a. II. gives: S.I. = Rs. 1200. Thus, P = Rs. 5000, R = 8% p.a. and T = 3 years. Difference between C.I. and S.I. may be obtained. So, the correct answer is (E).