The difference between simple and compound interest (compounded-annually) on a

Question

The difference between simple and compound interest (compounded-annually) on a sum of money for 2 years at 10% per annum is Rs 65. The sum is

Options:

A . Rs 6500

B . Rs 6565

C . Rs 65065

D . Rs 65650

Answer: Option A

Let the sum be Rs x.
Then
[x Ã— (1 +10/100)² - x] “ (x Ã— 10/100 Ã— 2) = 65
=> (x Ã— 11/10 Ã— 11/10 - x) “ x/5 = 65
=> (121x/100 - x) “ x/5 = 65
=> (21x/100 “ x/5) = 65
=> (21x “ 20x) = 6500
=> X = 6500

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