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 is: a.rs. 625 b.rs. 630 c.rs. 640 d.rs. 650

Answer 1

A sum of money lent at compound interest for 2 years a 20% per annum would fetch Rs. 482 more , if the interest was payable than if it was payable annually.

In addition to this, the difference between the simple interest on a certain sum at the rate of 10% per annual rate.