Question

Difference between Simple and compound interest on certain sum of money at 5% interest for 2 years is Rs 625. Find the compound interest at the same rate on the same sum of money for 3 years​

Answer 1

Answer:

A

Step-by-step explanation:

The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is:

[A].625[B].630[C].640[D].650

Answer: Option A

Explanation:

Let the sum be Rs. x. Then,

C.I. =x1 +42- x=676x- x=51x.100625625

S.I. =x x 4 x 2=2x.10025

51x-2x= 162525

 x = 625.