The difference between compound and simple interest on a sum of money for 2 years at 2% per annum is Rs. 122. The sum is:

Difference of compound interest and simple interest for 2 years = P(R/100)^{2}= P (2/100)^{2} ⇒ 122 = P (1/2500) ⇒ P = 122 × 2500 = Rs. 3,05,000

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- The difference between compound and simple interest on a sum of money for 2 years at 25% per annum is Rs. 880. The sum is:
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- A man deposited Rs. 20000 at 10% compound interest, compounded annually while Rs. 19000 at 12% simple interest per annum. What will be the difference between the compound interest and the simple interest earned by him after 3 years?
- Simple interest and compound interest (compounded annually) earned on a sum at the end of 2 years at a certain rate of interest p.a. are Rs. 1300 and Rs. 1430 respectively. Find the rate of interest.

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