Multiple choice

What is the different between the compound interest and simple interest on a sum of Rs.64000 at 6% per annum for 3 years? 64000 रु. की एक धनराशि पर 6% वार्षिक ब्याज की दर से 3 वर्षों का चक्रवृद्धि ब्याज और साधारण ब्याज का अन्तर क्या है?

  1. Rs./रु.705.240

  2. Rs./रु.750.240

  3. Rs./रु.705.024

  4. Rs./रु.750.024
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C Correct answer
Explanation

For Rs. 64000 at 6% for 3 years: Simple Interest = (64000 × 6 × 3)/100 = Rs. 11520. Compound Interest = 64000(1 + 6/100)³ - 64000 = 64000[(1.06)³ - 1] = 64000(1.191016 - 1) = Rs. 12225.024. Difference = 12225.024 - 11520 = Rs. 705.024.

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