The difference between the compound interest compounded annually and simple interest on a sum of mon...........

Quantitative Aptitude (CDS) Compound Interest

The difference between the compound interest (compounded annually) and simple interest on a sum of money deposited for 2 years at 5% per annum is Rs. 15. What is the sum of money deposited?

Rs. 6,000

Rs. 4,800

Rs. 3,600

Rs. 2,400

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Explanation:

The difference between the compound interest (compounded annually) and simple interest on a sum or money deposited for 2 years at R% p.a. be ??(?? / 100)²=15
=> ??(5 / 100)²=15
=> ??(1 / 20)²=15
=> ??/400=15
=> P = 6000