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

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Multiple Choice Questions

The difference between simple and compound interests compounded annually on a certain sum of money f...........

Quantitative Aptitude ( CCS) Compound Interest
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    The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 5% per annum is Rs.2. Find the sum.

    Rs.450
    Incorrect Answer
    Rs.720
    Incorrect Answer
    Rs.980
    Incorrect Answer

    Rs.800

    Correct Answer
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    Explanation:

    P(R/100)^2 = 2
    =>P(5/100)^2 = 2
    => P(1/400)= 2
    =>P = Rs.800

    Hence, option 4 is the correct answer.

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