Find the difference between the compound and simple interest on a principal of Rs. 2,000 for 3 years at an annual interest rate of 10\% . - Quantitative Aptitude MCQ UP Police Constable 2026 | ExamTest.live

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Find the difference between the compound and simple interest on a principal of Rs. 2, 000 for 3 years at an annual interest rate of 10% .

Solution & Step-by-step Explanation

1. The formula for the difference (D) between Compound Interest and Simple Interest for 3 years is: D = P (\frac{R}{100})^{2} (3 + \frac{R}{100}) 2. Substitute P = 2000, R = 10 into the formula: D = 2000 (\frac{10}{100})^{2} (3 + \frac{10}{100}) D = 2000 \times (\frac{1}{10})^{2} \times (3 + 0.1) D = 2000 \times \frac{1}{100} \times 3.1 D = 20 \times 3.1 = Rs. 62

Try it yourself before checking the explanation above.

Find the difference between the compound and simple interest on a principal of Rs. 2, 000 for 3 years at an annual interest rate of 10% .

Rs. 60

Rs. 62

Rs. 64

Rs. 66

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