A person lends some money at 8% per annum simple interest for three years. At the end of third year, he receives Rs. 250 as interest. How much more money (approximately) he would have received if the rate of interest were 12% per annum compounded annually?

A person lends some money at 8% per annum simple interest for three ye

1.	A person lends some money at 8% per annum simple interest for three years. At the end of third year, he receives Rs. 250 as interest. How much more money (approximately) he would have received if the rate of interest were 12% per annum compounded annually?
A.	Rs. 172
B.	Rs. 162
C.	Rs. 152
D.	Rs. 192
E.	Rs. 182
Answer» B. Rs. 162

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A person lends some money at 8% per annum simple interest for three years. At the end of third year, he receives Rs. 250 as interest. How much more money (approximately) he would have received if the rate of interest were 12% per annum compounded annually?

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