New Enroll here to Join NaBFID Analyst Into Class on May 6

    Question

    If the difference between compound interest and simple

    interest at 10% p.a is Rs 1 for two years then find the value of sum.
    A Rs 300 Correct Answer Incorrect Answer
    B Rs 400 Correct Answer Incorrect Answer
    C Rs 100 Correct Answer Incorrect Answer
    D Rs 200 Correct Answer Incorrect Answer

    Solution

    Rate of interest at SI for two years = 10 × 2 = 20%
    Rate of interest at CI for two years = 10 + 10 + 100/100 = 21%
    Difference = 21 - 20 = 1%
    1%→ Rs 1
    100%→ Rs 100

    Practice Next

    Relevant for Exams: