The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 18% per annum is Rs 81. The sum is ____.
A) Rs 2500 B) Rs 5000 C) Rs 10000 D) Rs 7500
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Answer:
Ci - Si = 81
[(1+p)^2 – 1]*x - 2*p*x = 81
(1.18^2 - 1)*x - 2*0.18*x = 81
(1.18^2 - 1 - 2 *0.18)*x = 81
x= 2500
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The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 18% per annum is Rs 81. The sum is ____.
A) Rs 2500 B) Rs 5000 C) Rs 10000 D) Rs 7500..
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