Question

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:

Answer 1

sum=Rs.x

C.I=[x(1+4/100)^2-x]=(676/625x-x)=51/625

S.I=(x*4*2)/100=2x/25

x=625