A person lent a sum of Rs. 9000 on simple interest at 10% per annum for 3 years. Find the difference in interest received by him, if he had lent the same sum on compound interest at 20% per annum for 2 years.
- AOption (a)
Rs. 1960
- BOption (b)
Rs. 1160
- COption (c)
Rs. 1260
- DOption (d)
Rs. 2700
- EOption (e)
Rs. 1240
View answer & explanationHide answer & explanation
Correct answer
Rs. 1960