Question
The difference between compound interest and simple interest on a certain sum of money for 2 years at 5% per annum is Rs. 41. What is the sum of money ?
Answer: Option C
$$\eqalign{
& \Rightarrow {\text{C}}{\text{.I}}{\text{.}} - {\text{S}}{\text{.I}}{\text{.}} = 41 \cr
& \Rightarrow {\text{C}}{\text{.I}}{\text{.}} - {\text{S}}{\text{.I}}{\text{.}} = P{\left( {\frac{r}{{100}}} \right)^2} \cr
& \Rightarrow 41 = P\left( {\frac{{25}}{{10000}}} \right) \cr
& \Rightarrow P = 16400 \cr} $$
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$$\eqalign{
& \Rightarrow {\text{C}}{\text{.I}}{\text{.}} - {\text{S}}{\text{.I}}{\text{.}} = 41 \cr
& \Rightarrow {\text{C}}{\text{.I}}{\text{.}} - {\text{S}}{\text{.I}}{\text{.}} = P{\left( {\frac{r}{{100}}} \right)^2} \cr
& \Rightarrow 41 = P\left( {\frac{{25}}{{10000}}} \right) \cr
& \Rightarrow P = 16400 \cr} $$
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