Question
The difference between simple and compound interests on a sum of money at 4% per annum for 2 years is 8. The sum is
Answer: Option A
Answer: (a)Using Rule 6,Let the sum be x.When difference between the compound interest and simple interest on a certain sum of money for 2 years at r% rate is x, then the sum is given by:Sum = Difference × $(100/\text"Rate")^2$= Rs.8 × $(100/4)^2$= Rs.8 × 25 × 25 = Rs.5000
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Answer: (a)Using Rule 6,Let the sum be x.When difference between the compound interest and simple interest on a certain sum of money for 2 years at r% rate is x, then the sum is given by:Sum = Difference × $(100/\text"Rate")^2$= Rs.8 × $(100/4)^2$= Rs.8 × 25 × 25 = Rs.5000
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