Mathematics · Interest

On a certain sum, the difference between the compound interest, compounded annually, and the simple interest at 10% per annum for 3 years is ₹93. Find the sum.

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1₹3,500
2₹3,000✓
3₹4,000
4₹2,500

Correct answer

₹3,000

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On a certain sum, the difference between the compound interest, compounded annually, and the simple interest at 10% per annum for 3 years is ₹93. Find the sum.

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On a certain sum, the difference between the compound interest, compounded annually, and the simple interest at 10% per annum for 3 years is ₹93. Find the sum.

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