The difference between simple and compound interest on a certain sum of money fo

Question

The difference between simple and compound interest on a certain sum of money for 2 years at 4 per cent per annum is 1. The sum of money is :

Options:

A . 650

B . 600

C . 560

D . 625

Answer: Option D
Answer: (d)Using Rule 6,When difference between the CI and SI on a certain sum of money for 2 years at r % rate is x, thenSum = x × $(100/r)^2$= 1 × $(100/4)^2$ = Rs.625

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