Question

The difference between compound interest and simple interest on a certain sum of money for 2 years at 5% per annum is Rs. 41. What is the sum of money?

A) Rs.7200 B) Rs.9600 C) Rs.16400 D) Rs.8400

Answer 1

I think answer is (a)

Answer 2

Answer:

Solution

⇒ C.I. − S.I. = 41

⇒ C.I. − S.I. = P(r/100)²

⇒ 41 = P(25/10000)

⇒ P = 16400

so OPTION c)16400 is CORRECT