📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      If the difference between compound interest (compounded

      annually) and simple interest earned in two years at 25% p.a., is Rs. 1,000, then find the sum invested.
      A Rs. 12,000 Correct Answer Incorrect Answer
      B Rs. 20,000 Correct Answer Incorrect Answer
      C Rs. 16,000 Correct Answer Incorrect Answer
      D Rs. 18,000 Correct Answer Incorrect Answer

      Solution

      Let the sum invested be Rs. 'P' Simple interest earned = {(P × 25 × 2)/100} = Rs. '0.5P' Compound interest = P × [{1 + (25/100)}² – 1] = Rs. '0.5625P' ATQ; 0.5625P – 0.5P = 1000 Or, 0.0625P = 1000 So, P = 16,000

      Practice Next
      More Simple and compound interest Questions

      Relevant for Exams:

      ask-question