Allied & ICAR Exam Bank • ALLIED_2317 MCQ • 2 Marks

Section 8: General Aptitude

Quantitative Aptitude

Subtopic: Numerical Computation

Question Statement:

The difference between compound interest and simple interest on a sum of Rs 10,000 for 3 years at 10% per annum is:

Options:

  • (A) Rs 310
  • (B) Rs 300
  • (C) Rs 325
  • (D) Rs 290

Answer Key:

A

Step-by-Step Solution & Explanation

Diff for 3 years = $P(R/100)^2 (3 + R/100) = 10000 \times 0.01 \times (3 + 0.1) = 100 \times 3.1 = 310$ rupees.
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