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

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Quant ( MASTER) Compound Interest Add to Study Deck

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.

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.

By: Amit Kumar
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