Comprehension Passage
Directions: Five people namely Virat, Sameer, Gaurav, Sahil, Saurabh invested certain amount of sum in different schemes. The rate of interest per annum is different. The table given below gives the information about the compound interest received by them after two years and three years, respectively when the interest is compounded annually.
| People | Compound interest (in Rs.) received after 2 years | Compound interest (in Rs.) received after 3 years |
|
Virat |
5500 | 9100 |
|
Sameer |
3900 | 6350 |
|
Gaurav |
8100 | 13725 |
|
Sahil |
32000 | 60800 |
|
Saurabh |
7200 | 13080 |
Find the difference between compound interest and simple interest earned by Virat. If Virat had invested amount of Rs.13000 in simple interest at the 25% p.a. rate of interest for 3 years and invested of amount of Rs. 16250 in compound interest at the rate of 20% p.a. for 3 years?
1
2080
2
3080
3
2100
4
3100
5
4008