What will be the difference between simple interest and compound interest @ 10% per annum on a sum of Rs. 1000 after 3 years?
Answer: A
S.I. = Rs. [(1000 x 10 x 3) / 100] = Rs. 300
C.I. = Rs. [1000 x (1 + (10/100))⊃3; - 1000] = Rs. 331
Difference = Rs. (331 - 300) = Rs. 31