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      Question

      The difference between the compound interest compounded

      annually and simple interest of a sum at 18% p.a. for 2 years is Rs. 324. Find the sum.
      A Rs 8000 Correct Answer Incorrect Answer
      B Rs 10000 Correct Answer Incorrect Answer
      C Rs 12000 Correct Answer Incorrect Answer
      D Rs 15000 Correct Answer Incorrect Answer

      Solution

      Let the sum = Rs. P
      Using formula, Difference = P(R/100)²
      So, 324 = P(18/100)²
      Or, P = Rs 10,000

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