Question

(118) The difference between the compound interest and simple interest on a certain
sum of money at 10% per annum for 2 years is Rs 500. Find the sum when the
interest is compounded annually.
(a) Rs 50000
(b) Rs 55000
(c) Rs 40000
(d) Rs 65000

Answer 1

Step-by-step explanation:

(118) The difference between the compound interest and simple interest on a certain

sum of money at 10% per annum for 2 years is Rs 500. Find the sum when the

interest is compounded annually.

(a) Rs 50000

(b) Rs 55000

(c) Rs 40000

(d) Rs 65000