The difference between the compound interest and simple interest on 10,000 for 2

Question

The difference between the compound interest and simple interest on 10,000 for 2 years is 25. The rate of interest per annum is

Options:

A . 12%

B . 5%

C . 10%

D . 7%

Answer: Option B
Answer: (b)Using Rule 6,Difference = ${PR}^2/10000$25 = ${10000 × R^2}/10000$ ⇒ R = 5%

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