If the compound interest on a certain sum of money for 7 years at 10% per annum be Rs. 993, what would be the simple interest?
Choices.
A) Rs. 880
B) Rs. 890
C) Rs. 895
D) Rs. 2100
E) None
Let P = Principal   A - Amount   We have a = P(1 + R/100)3 and CI = A - P   ATQ 993 = P(1 + R/100)3 - P   ? P = 3000/-   Now SI @ 10% on 3000/- for 7 yrs = (3000 x 10 x 7)/100   = 2100/-   Answer: Rs. 2100.
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If the compound interest on a certain sum of money for 7 years at 10% per annum be Rs. 993, what would be the simple interest?