What will be the difference between simple interest and compound interest on Rs. 15,000 for 3 years at 8% per annum?

Type: MCQ • Marks: 1

A. 1) Rs. 300.00

B. 2) Rs. 280.00

C. 3) Rs. 312.50

D. 4) Rs. 295.68

Explanation

Diff_3 = P * (R/100)^2 * (3 + R/100) = 15000 * (0.08)^2 * (3.08) = 15000 * 0.0064 * 3.08 = 96 * 3.08 = Rs. 295.68.

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UP TGT Mathematics

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