If the difference between the compound interest compounded annually and the simple interest on a certain sum of money for three years at 10% per annum is Rs. 279, then the sum (in Rs.) is:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 9,000.
For 3 years, The difference between CI and SI = P(r/100)2[(300 + r)/100]
279 = P(10/100)2(310/100)
P = 9000