Multiple Choice Questions on The difference between simple and compound interest compounded annually on a certain sum of money fo........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

The difference between simple and compound interest compounded annually on a certain sum of money fo...........

Quantitative Aptitude ( CCS) Compound Interest
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    The difference between simple and compound interest compounded annually on a certain sum of money for 2 years at 4% per annum is re.1. the sum is

    625 rs

    Correct Answer

    600 rs

    Incorrect Answer

    575 rs

    Incorrect Answer

    800 rs

    Incorrect Answer
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    Explanation:

    sum=Rs.x

    C.I= [x(1+4/100)2-x] = (676/625x-x)=51/625

    S.I= (x*4*2)/100=2x/25

    x=625

    Hence, option 1 is the correct answer.

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