ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    Question

    If the difference between compound interest (compounded

    annually) and simple interest earned in two years at 10% p.a., is Rs. 200, then find the sum invested.
    A Rs. 15,000 Correct Answer Incorrect Answer
    B Rs. 20,000 Correct Answer Incorrect Answer
    C Rs. 25,000 Correct Answer Incorrect Answer
    D Rs. 18,000 Correct Answer Incorrect Answer

    Solution

    Let the sum invested be Rs. 'P' Simple interest earned = {(P ├Ч 10 ├Ч 2)/100} = Rs. '0.2P' Compound interest = P ├Ч [{1 + (10/100)}┬▓ тАУ 1] = Rs. '0.21P' ATQ; 0.21P тАУ 0.2P = 200 Or, 0.01P = 200 So, P = 20,000

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question