Multiple choice

What is the difference between the compound interest and simple interest on Rs. 9000 at the rate of 8% per annum for 3 years ? 9000 रू. पर 8% की वार्षिक ब्याज की दर से 3 वर्षों के लिए चक्रवृद्धि एवं साधारण ब्याज का अंतर क्या है ?

  1. Rs. 175.408

  2. Rs. 177.408

  3. Rs. 156.308

  4. Rs. 179.348
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B Correct answer
Explanation

For Rs. 9000 at 8% for 3 years: Simple Interest = 9000 * 8 * 3 / 100 = Rs. 2160. Compound Interest = 9000 * (1 + 8/100)^3 - 9000 = 9000 * (1.08)^3 - 9000 = Rs. 2337.408. Difference = 2337.408 - 2160 = Rs. 177.408.

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