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The difference between the compound interest and the simple interest on ₹10000 for 3 years at 10% per annum, interest compounded annually, is (in ₹):

Competition practiceRatio, Percentage & Commercial Math

A100
B210
C300
D310

Step-by-Step Solution

CI =

10000 \times (1.1)^{3} - 10000 = 13310 - 10000

= ₹3310. SI =

(10000 \times 10 \times 3) /100

= ₹3000. Difference = ₹310. (₹100 is the 2-year difference.)

Answer: D) 310

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