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    4. Simple and compound interest
    5. The difference between compound and simple interest on a sum of money for 2 years at 25% per annum i

    Question

    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:
    A 14,675 Correct Answer Incorrect Answer
    B 14,080 Correct Answer Incorrect Answer
    C 15,600 Correct Answer Incorrect Answer
    D 13,200 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Difference of compound interest and simple interest for 2 years = P(R/100)2= P (25/100)2 ⇒ 880 = P (1/16) ⇒ P = 880 × 16 = Rs. 14,080

    Practice Next
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