Question
The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is:
Answer: Option A
- Let the sum be Rs. x. Then,
C.I. = [ x ( 1 + 4 ) 2 - x ] = ( 676 x - x ) = 51 x. 100 625 625
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- Let the sum be Rs. x. Then,
C.I. = [ x ( 1 + 4 ) 2 - x ] = ( 676 x - x ) = 51 x. 100 625 625
Was this answer helpful ?
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