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 swum (in Rs.) is
Answer: Option A
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Let the sum be Rs. `x `, Then ,
C.I. = `[x (1 + 4/100)^2 - x]`
=`(676/625 x - x)` = ` 51/625 x`
S.I. = `((x xx 4 xx 2)/(100)) = (2x)/(25)`
`:.` ` (51x)/(625) - (2x)/(25)` = 1.
or `x` = 625.
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