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The compound interest on a sum of money for 2 years is rs.832 and the simple interest on the same sum for the same period is rs.800 .the difference between the compound interest and simple interest for 3 years

Rs.48
Rs.66.56
Rs.98.56
None of these

Correct Answer: Rs.98.56

Explanation:

difference in C.I and S.I in 2years =Rs.32

S.I for 1year =Rs.400

S.I for Rs.400 for one year =Rs.32

rate=[100*32)/(400*1)%=8%

difference between in C.I and S.I for 3rd year

=S.I on Rs.832= Rs.(832*8*1)/100=Rs.66.56

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