The difference between the simple and compound interest on a certain sum of money at 5 rate of inter...........

Quantitative Aptitude ( CCS) Compound Interest

The difference between the simple and compound interest on a certain sum of money at 5% rate of interest per annum for 2 years is Rs. 15. Then the sum is

6500

5500

6000

7000

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Explanation:

CI for = 2 years = 5 + 5 + (5 × 5)/100 = 10.25%
Difference = (10.25 - 10)% = 0.25%
0.25% of sum = Rs. 15
Sum = 15/0.25 × 100 = 15 × 10000/25
Sum = Rs. 6000