The compound interest on a certain sum of money at a certain rate per annum for two years is Rs 2 05...........

Quantitative Aptitude ( CCS) Compound Interest

The compound interest on a certain sum of money at a certain rate per annum for two years is Rs. 2,050 and the simple interest on the same amount of money at the same rate for 3 years is Rs. 3000. Then the sum of money is

Rs. 20000

Rs. 18000

Rs. 21000

Rs. 25000

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Explanation:

SI for 3 years = Rs. 3000
SI for 2 years = Rs. 3000/3 × 2 = Rs. 2000
SI for 1 year = Rs. 1000
CI for 2 years = Rs. 2050
Required difference = (2050 - 2000) = Rs. 50
Required Rate% = 50/1000 × 100 = 5%
According to the question, 5% of sum = 1000
Sum = 1000/5 × 100 = Rs. 20000