The difference between compound interest and simple interest on a sum for 2 yea

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Question

The difference between compound interest and simple interest on a sum for 2 years at 8% P.a is Rs 786. The sum is:

Options:

A . Rs 100000

B . Rs 11000

C . Rs 120000

D . Rs 170000

Answer: Option C

Let the sum be Rs x.
Then
S. I = Rs (x Ã— 8/100 Ã— 2) = Rs 4x/25
C. I = Rs [x Ã— (1 + 8/100)2 - x]
= Rs (x Ã— 27/25 Ã— 27/25 - x)
=Rs 104x/625
(C.I) “ (S.I)
= Rs(104x/625 “ 4x /25)
= Rs 4x /625
Therefore 4x/625 = 768
=> x = ((768 Ã—625)/4) = 120000
Therefore sum = Rs 120000

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