Multiple Choice Questions on On what sum of money will the difference between simple interest and compound interest for 2 years a........... for Uttarakhand Civil Services (UKPCS) Preparation

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Multiple Choice Questions

On what sum of money will the difference between simple interest and compound interest for 2 years a...........

Quantitative Aptitude Compound Interest
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    On what sum of money will the difference between simple interest and compound interest for 2 years at 5% per annum be equal to Rs 63

    23200

    Incorrect Answer

    29200

    Incorrect Answer

    25200

    Correct Answer

    31200

    Incorrect Answer
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    Explanation:

    For 2 years
    Difference between C.I and S.I.
    → C.I – S.I. = P (P/100)2
    → 63 = P × (5/100)2
    → 63 × 20 × 20 = P
    → Principal = Rs. 25200
    Therefore P.A = Rs. 25200

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