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Correct Answer – Option 3 : Rs.50000
Given:
C.I. – S.I. = Rs.1445
Rate (R) = 17%
Time = 2 years
Formula used:
The difference between S.I. and C.I. for 2 years = PR2/(100)2
Where P → Principal
R → Rate
Calculations:
According to the question,
The difference between the compound interest and simple interest for 2 years = PR2/(100)2
⇒ 1445 = P × 17 × 17/10000
⇒ P = Rs.50000
∴ The value of P is Rs.50000.
Correct Answer – Option 1 : Rs.3000
Given:
C.I. – S.I. = Rs.108.3
Rate (R) = 19%
Time = 2 years
Formula used:
The difference between S.I. and C.I. for 2 years = PR2/(100)2
Where P → Principal
R → Rate
Calculations:
According to the question,
The difference between the compound interest and simple interest for 2 years = PR2/(100)2
⇒ 108.3 = Z × 19 × 19/10000
⇒ Z = Rs.3000
∴ The value of Z is Rs.3000.