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The difference between compound interest and simple interest on a sum for 3 years at 10% per annum is Rs 31.
Find the sum.

Class 8Compound InterestComparing Quantities

A1000
B1100
C2000
D900

Step-by-Step Solution

For 3 years, difference =

P [(1.1)^{3} - 1 - 3 \times 0.1] = P [1.331 - 1 - 0.3] = 0.031 P = 31

, so

P

= Rs 1000.

Answer: A) 1000

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