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

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Quant ( MASTER) Compound Interest Add to Study Deck

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

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.

By: Amit Kumar
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