Multiple choice

If the C.I. on certain sum of money for $3$ year $10\%$ per anum be Rs $993$. what would be simple interest?

  1. Rs. $993$
  2. Rs. $900$
  3. Rs. $950$

  4. None to these
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B Correct answer
Explanation

For 3 years at 10%, CI = P * ((1.1)^3 - 1) = 0.331P. 0.331P = 993, so P = 3000. SI = P * R * T / 100 = 3000 * 10 * 3 / 100 = 900.

AI explanation

If the compound interest on a sum for 3 years at 10 percent is Rs. 993, the principal is calculated as 993 divided by (1.10 cubed minus 1), which equals 993 divided by 0.331, giving a principal of Rs. 3000. The simple interest on this principal is calculated as 3000 multiplied by 10 multiplied by 3 divided by 100, which equals Rs. 900.

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