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 sum (in Rs.) is:
Options:
A . 625
B . 630
C . 640
D . 650
E . None of these
Answer: Option A - Let the sum be Rs. x. Then, C.I. = [ x ( 1 + 4 ) 2 - x ] = ( 676 x - x ) = 51 x. 100 625 625
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